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Andrew Yang’s Cryptocurrency Plans to Include ‘The Universal Bitcoin Income’?

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Current US President Donald Trump may have tweeted his opinions on Bitcoin, stating he is not a fan, but one of his Presidential competitors, Andrew Yang, has a different viewpoint. The 2020 candidate has enamored himself to the cryptocurrency community by declaring his belief in Blockchain and Bitcoin.

This belief is starting to evolve and become more tangible with Yang explaining during an interview on the Off the Pill Podcast that he would consider issuing a monthly salary to US residents, dubbed Universal Basic Income (UBI) or the Freedom Dividend, but potentially in Bitcoin.

This would take the form of a $1,000 payment to everyone regardless of status and would seemingly allow receivers the decision to spend, hodl, send or trade it. 

To be fair, Yang did not outright state that he would make the UBI Bitcoin-based, but when the notion of a Universal ‘Bitcoin’ Income payment was suggested by the interviewer, he replied: “I love where you’re headed.”

He went on to add: “That’s one reason why everyone in the cryptocurrency community loves the idea of Universal Basic Income or the Freedom Dividend.”

Indeed, Yang’s policies are incredibly forward-thinking in regards to both Bitcoin and Blockchain. On his Yang2020 website, he has posted a policy blog about the modernization of voting, stating that voting should be done via a mobile device and with the verification performed through the Blockchain.

“Considering the advances in technology, there’s no reason why we should still be waiting in line at polling stations to cast votes. The machines being used in most locales are also as vulnerable to tampering and hacking as modern technologies,” his blog read.

“Americans should be able to vote via their mobile device, with verification done via Blockchain. This would dramatically increase participation in all elections, whether local, state, or federal.”

Yang’s support of cryptocurrencies and Blockchain would, of course, go a long way towards their adoption should he succeed in his presidential bid. However, he faces stern competition in the current administration’s views of the ecosystem. 

Yet, there is a growing wave of people who may well be swayed based purely on his position surrounding cryptocurrency. In fact, well-known cryptocurrency commentator and Casa CTO, Jameson Lopp, may have even been the one to give Yang the idea of a Bitcoin UBI.

He tweeted his thoughts on running for president with one policy promise to “give every citizen $1,000 in Bitcoin a month.”

Darryn Pollock
Darryn has been interested in the blockchain and cryptocurrency space since he heard about Bitcoin in 2015. He then decided to use his journalism degree to report on this fascinating fintech space in 2016, and has not looked back since.

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