A few years ago, when the blockchain system and the cryptocurrencies emerged, the financial market was faced with greater innovation than they could measure, and all of this happened very quickly and very broadly, with no control over it. establish what its limits would be and how it would all work. The result is that so far, a lot of things works in the "illegality" Andre Yang plans to change that.
Last month... The businessman, philanthropist, lawyer and candidate for the Democratic Party in the race for the United States presidential elections in 2020 (which favors the implementation and recognition of the market involving cryptocurrencies and all their transactions), made following statement and managed to draw many people's attention to his more inclusive and libertarian financial market discourse:
"Other regulatory countries ahead of us are leading this new market and setting the rules that we will need to follow as soon as we reach it."
With this sentence, he wanted to focus on the problems that can be translated into the various levels of fraud that has hit the technology industry involving cryptocurrencies. According to what he thinks and believes, this is because there is a lack of regulation in this lucrative high-stakes market where decentralization is the ruler.
Yang has no doubt that the cryptocurrency market is the future of money (and all the freedom that is involved in this financial revolution is already attracting thousands of people) ... So, people will have to accept it sooner or later (not because he said it, but because it is the truth of the facts), but the obstacles that have been presented by the lack of system regulation of this great technology is the great villain.
Basing his explanations, he claims that digital assets and cryptocurrencies already make up a considerable portion of current economic activity, but the government's lack of interest in devising a national structure to regulate this market has not emerged (so far, it has not a priority within the political environment) and this is clear every time federal agencies claim conflicting jurisdictions.
In this journey where regulating the cryptocurrency technology industry and protecting US citizens from big technology companies that place their own profits as top priority (overriding social welfare) is one of the priorities, Yang has campaign promise promote legislation in the crypto market space where - for example - there needs to be a definition of what a token is, how much a token can be considered a security, and what the tax implications of owning, selling, and / or trading in any asset would be digital.
Buying a good fight against Congress, Yang points out that anything new needs to be better understood and explained to become acceptable. In this case, the US government's disregard for the innovations that the blockchain system and cryptocurrencies are obvious and very worrying for future generations.
Specifically speaking, he refers to the Financial Services Committee that questioned Mark Suckerbeg (Facebook CEO) for more than six hours about the implementation of the Libra Association and the long-awaited Libra token (the digital currency of its digital platform).
According to Yang:
"It is embarrassing to see the ignorance that some members of Congress display when talking about technology, and anyone who has attended Congress questioning Mark Zuckerberg is well aware of it. Without a basic level of understanding, it is unreasonable to expect proper regulation from leading companies. technology or the drafting of legislation that addresses the critical technological problems that we will continue to face in artificial intelligence and cyber security."
If he wins the US presidential election next year, Yang plans to implement blockchain-based mobile voting, and this idea is primarily intended (in addition to the convenience of giving Americans the option to vote via a mobile device) to use blockhain technology as a verification tool for the authenticity of votes in the forthcoming elections.
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