Bitcoin Could Be Used for Paying UBI In the Future, Says Trump's Rival Andrew Yang

Libra Coin News
Mon, 09/16/2019 - 12:06
Yuri Molchan
US presidential candidate Andrew Yang supports the idea of setting up ‘Universal Bitcoin Income’, says it may happen in the future
Cover image via www.yang2020.com
Contents

At the weekend, U.Today reported that the US presidential candidate, a rival of Donald Trump, Andrew Yang promised to pay out $1,000 to 10 people per month next year as part of his idea to implement UBI (Universal Basic Income) if he wins the election.

Justin Sun, the Tron founder, then decided to use the same initiative and pay 100 people $1,000 per month in 2020.

However, Andrew Yang may be going even further, if he gets elected as US president, and turn Universal Basic Income into ‘Universal Bitcoin Income’.

In a recent video podcast, he flirted with this idea, saying that he likes it if people could get Satoshis instead of fiat USD as their UBI.

Universal Bitcoin Income would come from corporations

 As the hosts of the podcast continued on the topic of crypto, Andrew Yang stated that he has many friends with high expertise in the crypto industry and that he believes cryptocurrencies and especially the blockchain are highly innovative.

He touched upon the topic of users’ private data and said that corporations should become transparent on how much money they make off it, where exactly they use it and give people a chance to block the usage of their personal data.

The next thought Yang expressed was that corporations need to share their value with the source of the value – users who let their data be used and pay them part of their income.

Yang shifted to this topic right after agreeing with one of the hosts that UBI should be paid out in Bitcoin in the future, so one may assume that the presidential candidate believes funds for UBI could be partly taken from corporative budgets.

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Trump is against Bitcoin

Earlier this year, the current US president bashed Bitcoin on his official Twitter page, saying that he is not a believer in Bitcoin or other crypto and that these assets are based on thin air. Besides, Trump wrote, they can be used for drug trade and other illegal activities.

However, another presidential candidate John McAfee, who is currently being chased by the IRS and CIA, is a long-time Bitcoin believer and claims that he is running the election race only to give crypto a global coverage.

The former antivirus magnate does not believe he will be able to win the elections but hopes to make a great contribution into raising crypto awareness.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.