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Crypto-Lobbying: Increase in crypto-donations for political campaigns

Posted:: Jun 22, 2022 12:12 Category: Americas , Blockchain , Crypto , Posted by Kyle

Blockchain technology is significant not only for its potential as a new iteration of connective tech but also for its flexibility. From supply chains to national security, the use cases are significant and almost endless with fintech being only one piece of the puzzle. A new and emerging area of the tech as a whole is its increasingly noticed potential in terms of political funding via Crypto-lobbying.

Crypto’s role in political funding: the case of Ukraine

With the war in Ukraine leading to a destabilization of local banking systems, the Ukrainian state has pioneered the use of digital donations paid directly in crypto for the financing of their humanitarian and military effort. According to Bloomberg, these efforts have led to over $60 million and counting in donations via cryptocurrencies with even special NFT-sales being used to this end. The success of this program has not gone unnoticed with CNBC noting that we may be on the precipice of a new age of political funding.

Engage, Raise and account: Crypto-lobbying in America?

Spearheaded through initiatives such as the Engage Raise platform which will be launching this July, crypto may be a new avenue for political funding. This crypto-lobbying and fundraising tool is built with the exclusive use of cryptocurrencies such as Bitcoin via a widget on their own websites or a web browser. Launching ahead of the Midterm elections, CEO of Engage Labs Martin Dobelle told Bitcoin Magazine that this platform also had other utilities for your average crypto-friendly candidate with the current iteration of the event having nearly $1 million in pre-seed investment with a strong presence amongst the American business community.

“Candidates can use our platform to connect with the crypto and blockchain community via fundraising, events, and messaging.”

Allan Keen, the chairman for the real estate firm Keewan Real Property, also spoke to Bitcoin Magazine about the platform’s potential.

“(It will bring) the democratic process further into the digital age by allowing the acceptance of cryptocurrencies for campaign donations.”

With Blockchain’s dimensions in transparency and non-fungibility, Crypto-lobbying might the the Democratic pillar for the 21st century.

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