The Associated Press has just logged the US Presidential Race on the blockchain and also the victory of the democratic representative Joe Biden. The news outlet partnered with blockchain encyclopedia Everipedia back in October and today it logged the projection that Biden will be the next US president so let’s read more in today’s blockchain news.
This means that the prediction will also be logged as long as the blockchain network continues. The Associated Press logged its projection that Biden will be the next president of the United States on the blockchain after partnering with Everipedia, the popular blockchain company that runs a decentralized encyclopedia. The goal is to publish the results of the US elections cryptographically on the blockchain because according to Everipedia:
“In an era of misinformation, the need for verifiable information has never been greater.”
The AP called the results after Biden won the state of Pennsylvania today and the news was logged by the platform using the OraQle software that uses Chainlink. President Donald Trump contested the election and called Joe Biden’s win a fraud. Although the blockchain never lies, the Trump supporters could recite the “garbage in, garbage out” deal. But contested elections theories put aside, even if the voters are recounted, for now, Everipedia is sticking to this result. Sam Kazemian, the president of Everipedia said:
“Firstly, the AP is the definitive source of US elections since 1848 since Zackary Taylor won that election. They have been counting national votes since then. Most people don’t know this. The AP is a nonpartisan, nonprofit organization that is not part of the ‘mainstream media’ narrative that right-leaning people think.”
The Associated Press makes history calling the winner of the US presidential election on the blockchain using the Everipedia OraQle. @JoeBiden is the first president to have his win recorded on the #EOS and #Ethereum blockchains. #AP #Everipedia #Chainlink https://t.co/kwU7wZTUu6 pic.twitter.com/6y5K7dKUll
— Everipedia (@Everipedia) November 7, 2020
Kazemian added that the OraQle product doesn’t comment on the “political legitimacy of the democratic and electoral process” by adding:
“People are mistakenly thinking that because the results are on the blockchain, they have more political legitimacy, that’s not necessarily the case. Legitimacy comes from the system, not the source.”
Speaking on the election aftermath, As the thigh race concluded, the futures contracts for Biden reached $0.993 and they expire at $1. Democratic nominee Joe Biden won the US presidential election as it seems for now, but there are still re-calculations and court decisions that have to be made. Thus the future on FTX that bet on the US election is coming to conclusion.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post