In the upcoming September U.S. presidential elections, former President Trump and President Biden are expected to have a close competition, according to political experts.
The Cardano Foundation CEO has disclosed that they have been approached by states to potentially develop a blockchain voting system.
With the imminent clash between these two political rivals, there is a strong demand for transparency and efficiency in the elections. It has been revealed that Cardano could be a highly sought-after blockchain technology that can provide the most credible election in history.
Blockchain technology has already revolutionized the financial industry, particularly by enabling faster, cheaper, and more efficient cross-border transactions. Furthermore, blockchain has allowed the industry to overcome traditional obstacles, such as reaching individuals without access to banking services.
In the past, numerous studies have been conducted on the possibility of running elections on a blockchain. While some speculated that it would be a developing country, often associated with election fraud, that would be the first to test this technology, it now appears that it could be the world’s superpower.
In a recent interview, Cardano Foundation CEO Frederik Gregaard expressed the U.S. government’s interest in the Cardano blockchain at the state level. Although the CEO did not provide many details, he revealed that there was significant interest due to the technology’s ability to deliver transparent and efficient results. He stated that the government aims to develop a “lightweight blockchain solution to enhance transparency and accountability” to facilitate fast, efficient, and fair election outcomes.
The Cardano Foundation has been approached by several U.S. states for assistance in implementing blockchain voting.
It is worth noting that this development comes before the implementation of the Catalyst Voting System on the Cardano blockchain, which could serve as a foundation for such a project. Therefore, the CEO mentioned that the foundation is currently assessing the feasibility of the initiative, considering that the elections are only months away.
This could be a major catalyst for Cardano’s ADA, which has faced challenges in recent weeks and has not reached its all-time highs since 2021. ADA currently ranks tenth in terms of market capitalization and has experienced a modest 2% gain in the past 24 hours, recovering a portion of its weekly losses, which amount to nearly 10%. At the time of writing, the token is trading at $0.5893.
Like many other altcoins, ADA’s movement has been influenced by Bitcoin (BTC) in recent weeks. With BTC’s market dominance exceeding 50% and the halving event taking place this month, retail investors have been cautious with their altcoin investments, while large investors prefer to focus on Bitcoin.
Another significant catalyst for ADA is an upcoming Cardano upgrade that is expected to enhance the developer experience by up to 10 times. As reported by CNF, this upgrade, featuring message signing, represents the latest advancement in Cardano’s evolutionary journey.
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