London Mayoral Candidate Brian Rose Advocates for Blockchain Voting, Plans New Crypto Initiative
Summary:
London mayoral candidate and London Real podcast host Brian Rose suggests that the implementation of blockchain technology in voting systems could bolster transparency and reinstate public confidence in elections. He plans to introduce blockchain voting and make London more welcoming to cryptocurrency innovation. The former Wall Street banker also aims to enhance financial education in the UK via a new London-based cryptocurrency and a dedicated financial education platform. The London coin would work like any regular cryptocurrency, with uses including payment for public services and to incentivize learning about blockchain and cryptocurrency. To offset costs of implementation, Rose proposes a one-time 1% financial education tax on major London-based financial institutions.
London mayoral candidate Brian Rose, also the host of the London Real podcast, believes that the incorporation of blockchain technology into voting systems could enhance transparency and restore public faith in elections. In an interview with Cointelegraph, Rose stated that using blockchain for voting would ensure unquestionable proof of identity and create an unalterable record of votes. He also added that public trust in political parties and election procedures has decreased significantly in recent years. For instance, as of 2023, trust in political parties in the U.K. fell to 12% from 20% in 2022, as per a survey conducted by the Office for National Statistics (ONS) in March 2024.
While Rose still has faith in the U.K.'s current election system, he sees considerable opportunities for public benefit from blockchain-aided voting. He not only advocates for integrating blockchain technology into voting systems but also plans to make London more friendly towards cryptocurrency innovations and return its status as a premier global financial hub.
Brian Rose, having worked previously as a Wall Street banker, further highlights the inadequacy of financial education in the country. Therefore, he aims to establish a financial education platform, along with introducing a new London-based cryptocurrency, to empower the citizens. He believes in launching the London coin as a way of revolutionizing financial education in the city.
The specifics of the London token are being worked out by Rose. He envisages it operating like any other cryptocurrency, with potential fluctuations in value and possible launch on the Polygon or Avalanche blockchain. Among the everyday uses of the new London cryptocurrency that he intends to provide are payment of taxes, public transport, and other public utility services.
The introduction of the London coin would involve about 10 million residents of the Greater London area, encouraging them to understand the complexities of cryptocurrency and blockchain. To cover the costs, Rose proposes a one-time 1% financial education tax on major financial firms based in London.
Rose's confidence in the possibilities of blockchain technology stems from his own significant investment in the sector. He shared that he has invested over $10 million in about 40 different Web3 firms.
Published At
4/25/2024 3:06:13 PM
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