$Zuckbucks$ and Political CryptoTokens

This post is by Jeff Carter from Points and Figures

We are learning more and more about how Facebook’s ($FB) Mark Zuckerberg not only suppressed freedom of speech on his platform but he used his money to back hard left-wing candidates in the last election.  What we don’t have is any tracking mechanism on the money.  People have complained about money in politics for years.  We have had campaign finance reform which failed.  The left used to whine about the Koch brothers long before the right whined about George Soros.

I am all for any US citizen or US-based entity putting as much money as they want into a political race as long as it’s transparent. You earned the money, you get to decide what to do with it. There are diminishing returns to dollars spent.  The laws of economics even work in political races. Foreign money isn’t welcome in determining the make-up of our government and that needs to be tracked too.  In the early 1990s, Bill Clinton famously mined China for money far before the fake Russian outrage of 2016.

The problem is how to trace and track it all.

Fortunately, there is a new technological way.  Create a political token and have a corresponding blockchain.  All money that is spent on political ads, material, travel, cocktail parties, political lobbying, and the like would have to be paid for with a token. Each token would be like a stablecoin, equivalent to the value of one US Dollar.  US Dollars would be converted to Political tokens.  Once that happened, (Read more...)