US Rep. Warren Davidson has stated in an interview according to the latest blockchain news, that the blockchain technology could be used to fund the border wall which is an ongoing topic in the USA.
President Donald Trump made clear that there could be a government shutdown if the Congress doesn’t provide for the funding of the national security project on which he based his entire presidential campaign.
Davidson along with other Republicans is trying to find alternative ways to fund the wall if the federal funding proves to be less than enough. Other ways to fund the wall are crowdfunding and contributions from the citizens. He is also one of the strongest supporters of crypto in Congress.
This can be considered as an invitation to all of the wall supporters to put their money into crypto as a donation by saying:
“You could do with this sort of, like, a crowdfunding site. Or you could even do blockchain, and you could have wall coins. But you could raise the money. And frankly, if we get it right at the Treasury, you could even accept Mexican pesos.”
However, Davidson isn’t considering at this time to build a crypto token for funding the wall. This is a warning to all of the citizens who can potentially be scammed into buying a wall coin so make sure to understand that there is no official announcement from Davidson of launching such a coin.
The blockchain can be used in many ways. For example, smart contracts could be developed for funds to be released as an equivalent of Treasury bonds by issuing them on the blockchain and many other ways as well.
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“As this alternative model for funding higher-education becomes more popular, enabling a secondary market would accelerate its adoption by providing liquidity and opportunities to mitigate risk, both attractive qualities for investors.”
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“On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will initiate user acceptance testing for its bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.’’The announcement was expected for a long time now. Bakkt which has named itself as the game-changing crypto ecosystem for all of the institutional investors faced multiple delays in the past. They announced the first testing in August 2018. The biggest issue for Bakkt’s team was the regulatory uncertainty and it still remains the most important problem to solve. Bitcoin futures trading will represent the first of many offerings but it still unknown when a total rollout of the service will be delivered. Setting the date on the pilot phase is coming in a good period but the coming week the rival provider CME Group announced a new record volume for its product. As previously reported in the coming altcoin news, the CME futures passed more than $500 million in implied USD value. Also, a few days ago the new crypto index Cryptoindex was launched which allows traders using TradingView, Bloomberg and Reuters to access information on Bitcoin and other major digital currencies and tokens. At the same time, CBOE which is the first bitcoin futures provider in the world will stop all operations later this month. The executives blamed the poor market performance and announced their decision just weeks before the BTC markets went into bull run mode reaching $9,000. White noted:
“Bakkt may be a form of moonshot, but it’s grounded in an earthbound endeavor to support the future of finance and the adoption of blockchain technology.’’Bakkt’s effort to help institutional investors and institutions, in general, to launch safely on the market is a very important element for the future. There are currently many new regulations and recommendations coming from the Financial Action Task Force (FATF) which will put stringent new requirements on all the crypto-related businesses.
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