Former President Trump and President Biden are set to go head-to-head in the September U.S. presidential elections in what will be a close call, according to political experts.
Cardano Foundation CEO has revealed that the team has been approached by the states about potentially developing a blockchain voting system.

With the upcoming U.S. elections pitting two of the greatest political rivals together, there is a great need for transparency and efficiency. It has emerged that Cardano could be a sought-after blockchain that can help offer the most credible election in human history.

Blockchain technology has already transformed the financial landscape, most notably by helping facilitate faster, cheaper, and more efficient cross-border transactions. Additionally, blockchain has allowed the industry to combat traditional hurdles, such as reaching the bankless.

In the past, numerous papers have been published on the potential of an election being run on a blockchain. But while some have speculated that it is a third-world country, commonly notorious for election rigging, that would be the first to test the technology, it has emerged that it could very well be the world’s superpower.

In a recent interview, Cardano Foundation CEO Frederik Gregaard revealed interest in the Cardano blockchain by the U.S. on a state level. While the CEO would not give much detail, he revealed that there was great interest given the technology’s capabilities to offer transparent and efficient results. He revealed that the government hopes to develop “a lightweight blockchain solution to make it more transparent and accountable” to facilitate fast, efficient, and fair results.

US States have approached the Cardano Foundation for help with voting on the blockchain. @F_Gregaard @Cardano_CF @AltcoinDailyio #Cardano $ADA https://t.co/yQizvBqOM0 pic.twitter.com/87OTP15MFT

— St₳kΣ with Pride (@StakeWithPride) March 28, 2024

It is important to note, that this comes ahead of the implementation of the Catalyst Voting System on the Cardano blockchain, which could provide a foundation for such a development. As such, the CEO has added that the foundation is still evaluating the feasibility of the project, with elections just months away.

This could be a huge catalyst for Cardano’s ADA, which has been struggling in recent weeks and which has failed to revisit its all-time highs since 2021. Sitting tenth on the market based on market cap, ADA has gained a modest 2% in the past 24 hours, helping to recover part of its weekly losses, which stand at nearly 10%. At the time of writing, the token is trading at $0.5893.

For the past few weeks, like the majority of altcoins, its movement has been dictated by Bitcoin (BTC). With BTC holding a market dominance of over 50% and halving this month, retail investors have been conservative on their altcoin investments, and large investors prefer to bet on Bitcoin.

Another key catalyst for ADA is an upcoming Cardano upgrade that is touted to improve the developer experience by up to 10x. As CNF reported, this upgrade, which features message signing, is the latest play in Cardano’s evolutionary journey.

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Filed under: Bitcoin - @ April 4, 2024 7:25 pm