How blockchain-based voting can restore trust in the electoral process

As someone who has followed the world of blockchain and cryptocurrencies closely through my podcast London Real and my experience as an entrepreneur and businessman, I strongly believe that implementing blockchain-based voting systems could significantly improve public trust in the election process. The current state of political parties and elections has left many people feeling disillusioned, and introducing a transparent, immutable record of votes on the blockchain would go a long way towards restoring confidence in our democratic institutions.

Using a blockchain for elections could lead to increased transparency and bolster public confidence in the voting procedure, asserts Brian Rose, an autonomous mayoral contender in London and the mastermind behind the London Real podcast.

Rose told CryptoMoon in an exclusive:

“Wouldn’t we all sleep better at night if the voting system was on the blockchain and you could really prove that identity and you could actually prove that vote and there would be an immutable record? This is the future and I think it takes someone like me who comes from a business background who’s intimately involved in the blockchain.”

Trust in the UK’s election processes and political parties has experienced a notable decline over the past few years. As revealed in a March 2024 ONS report, merely 12% of the populace expressed trust towards political parties – a decrease from 20% the previous year.

I’ve noticed that Rose continues to trust the integrity of the United Kingdom’s electoral process. However, from an observant perspective, I see merit in the adoption of blockchain technology for voting. The implementation of this innovative solution could bring about significant advantages for the public.

“I’m not implying that the U.K. voting system is not true, but the problem is that when humans are involved, sometimes things don’t go as planned. So we want to put voting on the blockchain.”

Instead of just implementing a blockchain voting mechanism, Rose intends to foster a welcoming environment for crypto innovation in London, with the ultimate goal of reestablishing its position as a prominent global financial hub. (Paraphrased version)

“[London] is not pro-crypto, whereas it used to be the greatest financial center in the world.”

I’ve noticed during my time on Wall Street that financial literacy is sorely missing in our society. To address this issue, I plan to establish a new cryptocurrency hub in London and develop an accompanying financial education platform. Through these initiatives, I hope to provide citizens with the knowledge and tools they need to take control of their financial futures.

“Financial education is king. But the only way to do it is to do it now with blockchain… I also want to create the London coin and get it into the hands of every man, woman, and child in this city to finally create a system for financial education.”

Though the specifics of the London token are yet to be fully worked out, Rose indicated that it would behave like a standard cryptocurrency, subject to market price changes. It may possibly make its debut on the Polygon or Avalanche blockchain networks.

I observe that Rose intends to provide daily services for London’s cryptocurrency community. Specifically, she plans to facilitate staking, enable transactions for transportation fares and taxes, as well as process payments for various public services.

Financial institutions would pay a 1% financial education tax for London coin

An independent mayoral candidate intends to distribute the London token to approximately 10 million residents in the Greater London region as a motivator for them to explore the complexities of blockchain technology and cryptocurrencies.

One option for rephrasing this sentence could be: Large financial institutions with headquarters in London would need to contribute a 1% tax to help offset the expenses.

“We’re going to give a 1% one-off financial education tax to any institution that has a global headquarters here behind me in the city of London that will be a liquidity pool that gets injected into The London coin.”

Forty Web3 businesses received investments totaling over $10 million from Rose, explaining his optimism regarding blockchain tech’s prospects.

2024-04-25 15:25

Financial institutions would pay a 1% financial education tax for London coin

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