Blockchain-based voting systems have the potential to enhance transparency and public trust in elections, according to Brian Rose, an independent candidate for mayor in London and the host of the popular London Real podcast. In an exclusive interview with Cointelegraph, Rose highlighted the decline in public trust in political parties and election processes in recent years. A report published by the Office for National Statistics (ONS) in March 2024 revealed that only 12% of the UK public trusted political parties in 2023, down from 20% in 2022.
Rose expressed his confidence in the UK’s election system but emphasized the advantages of implementing blockchain-based voting. He also outlined his vision to establish London as a hub for crypto innovation and restore its position as a leading global financial center. As part of this plan, Rose aims to create a new cryptocurrency exclusive to London and develop a financial education platform to empower citizens.
While the details of the London token are still being finalized, Rose explained that it would function as a regular cryptocurrency with price fluctuations. He mentioned the possibility of launching it on the Polygon or Avalanche blockchain. The London token is intended to offer day-to-day utilities such as staking, payment for public transport, taxes, and other public services.
To fund these initiatives, Rose proposes that large financial institutions headquartered in London contribute a 1% financial education tax. The independent mayoral candidate plans to distribute the London token to approximately 10 million people residing in the Greater London area, aiming to incentivize users to learn about blockchain technology and cryptocurrencies.
Rose’s confidence in the potential of blockchain technology is evident from his investment of over $10 million in 40 different Web3 companies. Notably, Bitcoin has recently outperformed Tesla stock for the first time since 2019, further highlighting the promising future of cryptocurrencies.