Cryptocurrency is becoming an important element of the political landscape in the US, especially among conservative forces, raising questions among progressive groups.
The Role of Cryptocurrency in the Political System
US President Donald Trump called for America to become 'the crypto capital of the planet,' reflecting a growing sentiment among his supporters. Cryptocurrency has ceased to be merely an asset class or subculture; it has become a parallel financial system for political and economic purposes. In 2022, crypto-aligned political groups poured over $14 million into elections.
The Progressive Position
Many progressives remain indifferent to cryptocurrencies despite their growing influence. Risk aversion, a lack of internal alignment, and a focus on profit put progressive organizations' support in question. Nonetheless, blockchain can be a tool for projects aligning with left-leaning values.
The Future of Cryptocurrency and Its Political Impact
The future of cryptocurrency depends on progressive involvement. Crypto infrastructure is becoming the backbone for civic tools and voting. If progressives remain on the sidelines, they risk losing influence and realizing that the rules have already been set by others. It is important for them to start participating and shaping these developments.
Cryptocurrency is not just a financial instrument; it also holds potential as a tool for political influence. Progressive forces need to engage more actively in this process to avoid losing the chance to shape their ideas within the new technological landscape.
