Posted 2 years ago | by Ben Armstrong
Lightning Network Gets in on U.S. Politics
Pro-cryptocurrency Democratic nominee for President Andrew Yang will be accepting Bitcoin via Lightning Network. While we have seen candidates in the past accept cryptocurrency donations, this marks the first time that a bitcoin centric super PAC will be focused on one candidate. Many Bitcoin enthusiasts have backed Yang as he is the only candidate for President who has promised to support pro-cryptocurrency legislation.
The name of the super PAC is called the Humanity Forward Fund, or Humanity FWD for short. The payment processor for it is OpenNode who will allow payments to be accepted from lightning wallets. As explained by OpenNode CEO Afnan Rahman, this is going to allow 100% of the donation go to the candidate instead of mining fees:
The super PAC obviously wants to receive donations as large as possible. But at the same time, individuals who want to donate just a bit to Yang’s platform now have that opportunity. It allows the donors to have all of the amount go toward the actual donation rather than miner fees.
Andrew Yang has been heavily focused on technology. One of his main platforms is Universal Basic Income (UBI) in which every American between 18 and 65 would receive $1,000 per month just for existing. His reasoning for this is because he believes automation will take roughly 80% of jobs in the next 50 years.
While many people may not like UBI for the slippery socialist slope it presents, the fact is that automation will be taking many jobs and this is a conversation many are ignoring. While UBI may or may not be the solution, we do need people to start presenting solutions.
See more about this story in BitBoy Crypto's latest video: