In the upcoming September U.S. presidential elections, former President Trump and President Biden are expected to have a close competition, as predicted by political experts.
The Cardano Foundation CEO recently disclosed that they have been approached by states to potentially develop a blockchain voting system. This is crucial as the upcoming elections will see two fierce political rivals go head-to-head, highlighting the need for transparency and efficiency. Cardano, with its blockchain technology, could potentially offer the most trustworthy election in human history.
Blockchain technology has already revolutionized the financial sector, particularly by enabling faster, cheaper, and more efficient cross-border transactions. Additionally, it has helped overcome traditional obstacles in the industry, such as reaching the unbanked population.
While previous papers have discussed the possibility of running elections on a blockchain, speculation has often centered around third-world countries known for election rigging. However, it has now emerged that a superpower like the United States could be the first to explore this technology.
In a recent interview, Cardano Foundation CEO Frederik Gregaard expressed interest from the U.S. government in the Cardano blockchain at a state level. Although he did not provide extensive details, he highlighted the significant interest due to the technology’s ability to deliver transparent and efficient results. The government aims to develop a “lightweight blockchain solution to make it more transparent and accountable,” ensuring fast, efficient, and fair election outcomes.
U.S. states have reached out to the Cardano Foundation for assistance in implementing blockchain-based voting systems. This development comes ahead of the implementation of the Catalyst Voting System on the Cardano blockchain, which could serve as a basis for this project. The foundation is currently evaluating the feasibility of this endeavor, with the elections just a few months away.
This potential collaboration could be a major catalyst for Cardano’s ADA, which has faced challenges in recent weeks and has not revisited its all-time highs since 2021. Currently ranked tenth based on market capitalization, ADA has experienced a modest 2% gain in the past 24 hours, helping to recover some of its weekly losses, which amount to nearly 10%. As of now, the token is trading at $0.5893.
In recent weeks, like many other altcoins, ADA’s movement has been influenced by Bitcoin (BTC). With BTC dominating over 50% of the market and its halving scheduled for 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 promises to enhance the developer experience by up to 10 times. This upgrade, featuring message signing, represents the latest step in Cardano’s evolutionary journey.
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