The cryptocurrency markets have been a rollercoaster over the last few years. The hype of 2017 was quickly replaced by the crypto winter of 2018. Will 2019 be the year of cryptocurrency adoption? Even though Bitcoin and blockchain technology have been around for 10 years, there is currently very little evidence of mainstream adoption. Think about it: When you walk down your local high street, how many stores actually accept cryptocurrency as a payment method?
The just-concluded midterms in the United States have spread a wave of jubilation across the crypto sphere. As others celebrate that the candidate of their choice won the midterm election, crypto enthusiasts celebrate having candidates-elects who are among the first people to embrace Bitcoin and blockchain technology during its early days.
At a time where the authenticity and sustainability of blockchain technology are being questioned and stringent rules and regulations are enacted to control every crypto-related activity, I think having Bitcoin-friendly people at the government level is just what we need.
The overwhelming joy could not be contained by crypto enthusiast as some of them took to their Twitter page to congratulate the Bitcoin-friendly governor elects – Governor-elect Jared Polis and Governor-elect Gavin Newsom.
A striking similarity between both governor elects is the fact that they are known to face Bitcoin-related issues head-on irrespective of how controversial the topic may seem or the person who is attacking the technology. This gives a certain level of assurance to members of the cryptoverse, knowing that they do not just have two Bitcoin activists who are ready to go any length to protect their interest; they have them at the government level. Crypto in power! What else could we ask for!
Still on the celebration of ‘firsts,’ besides being one of the first Bitcoin-friendly governors elected in the United States, Jared Polis also happens to be the first openly gay governor in America. I guess it is safe to say that America just achieved another milestone in its history.
Jared Polis, the Governor-elect of Colorado, is also the inaugural co-chairman of the congressional blockchain caucus – an association he launched in 2017 whose members are saddled with the responsibility of promoting legislation welcoming Bitcoin and blockchain.
As early as 2014 when Bitcoin and blockchain technology as a whole were yet to find their feet, Jared Polish made a public statement assuring the inhabitants of the cryptoverse that he will use his power in Congress to fight against any attempts by the government to put forward policies that restrict the growth of Bitcoin and that he believes it is about time for cryptocurrencies to rise to prominence.
Well, Colorado is not the only state where Bitcoin won. Lt. Gavin Newsome – one of the Bitcoin early adopters – was also elected as the governor of California. It seems that governor-elect Gavin Newsom is not just one of the U.S. politicians who have done – and still willing to do – all within his power to ensure the growth and sustenance of Bitcoin and blockchain technology, he is also known to embrace any new technologies with open arms.
As a display of his belief and commitment to the growth of Bitcoin, he was willing to accept BTC for campaign contributions. Governor-elect Gavin Newsom is of the opinion that the government should be performance-based and that information and services at any level of government should be thoroughly digitized so that citizens can carry out business with public agencies online.
Although we are yet to get an explicit plan on how Bitcoin and blockchain technology would benefit from their leadership, we can conclude from the role they have played so far that things are sure to get better for crypto enthusiasts.
I hope they do not follow the norm of most politicians who assume office and make nothing of the promises they made while campaigning. Well, 2019 is a few days from today. Time would tell as always. Until then, the jubilation of Bitcoin being the major winner in the midterms continues in the cryptoverse.