Charles Hoskinson, one of the co-founders of Input Output Global and the Cardano blockchain ecosystem, has publicly challenged Vitalik Buterin, the co-founder of Ethereum, regarding his recent advice against choosing political allegiances based solely on a candidate’s stance on cryptocurrency.
In a post on X platform, Hoskinson argues that the crypto community should adopt a single-issue voting strategy that focuses on supporting candidates who are pro-crypto. He believes that if politicians understand the potential electoral consequences, they will think twice before targeting the crypto industry.
Hoskinson also believes that voting for Joe Biden would negatively impact the American crypto industry. He suggests that by making crypto a decisive voting issue, politicians will be compelled to moderate their stance and avoid actions that could harm the industry.
Vitalik Buterin recently expressed concerns about backing political candidates who claim to support cryptocurrencies without fully understanding the technology’s principles and objectives. Buterin’s article emphasizes that the original values of the crypto movement, inspired by the cypherpunk ethos, aim to promote overall freedom and decentralization beyond just financial freedom. He also warns against aligning with authoritarian regimes that support crypto for their own benefit while suppressing individual freedoms.
Buterin cautions against solely focusing on “pro-crypto” candidates, as this may lead to supporting politicians whose broader values do not align with those of the crypto community. He emphasizes the importance of considering a politician’s overall vision for technology, privacy, and internationalism, rather than just their stance on cryptocurrency.
However, Hoskinson disagrees and suggests that in the 2024 election, voters should prioritize crypto-friendly candidates and make it a single-issue voting point. This approach would incentivize politicians to moderate their stance and refrain from interfering with the industry to avoid losing votes.
The merging of cryptocurrency and politics is expected to have a significant impact on the 2024 US presidential election, as candidates’ policies and views on blockchain innovation become crucial factors in voters’ decisions. A Harris Poll conducted for Grayscale in November 2023 revealed that almost half of American voters (47%) plan to include cryptocurrency in their investment portfolio in the future.
For the first time in a major election, cryptocurrency is at the forefront, with leading candidates actively discussing its impact. This marks a notable departure from previous campaigns, where it played a smaller role, such as in Andrew Yang’s campaign.
Magazine: Crypto voters are already disrupting the 2024 election — and it’s set to continue.