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Political surge for New York to have its crypto


Yes, a new politician joins the crypto world. This time it’s about the Assemblyman Ron Kim, who wants their constituents to be self-sovereign. What does that mean?

Let’s meet Ron Kim

Ronald Tae Sok Kim He is an American politician serving in the New York State Assembly representing District 40 which includes portions of Whitestone, Flushing, College Point and Murray Hill in Queens.

Consequently, Kim has been a major advocate of progressive politics and, surprisingly or not, has raised his voice in favor of crypto.

It is important to keep in mind that progressivism is a political ideology that is oriented to defend, in general terms, economic and social equality.

In November 2012 he was elected and since then Ron Kim has shown his support for bills seeking to create local currencies. Therefore, one of its objectives is to decentralize power structures and, at the same time, provide technological tools that provide individual autonomy.

An interesting fact is that Kim is part of Andrew Yang’s Humanity Forward campaign.

Opportunity in Crypto?

As we mentioned earlier, Kim has already spent considerable time doing politics in the United States and has therefore faced certain challenges.

In this regard, he assured CoinDesk that he previously tried to introduce the concept of community currencies as a way to probe the ground. However, it was not as successful and, therefore, redirected his speech towards the bankruptcies of the current economic system.

Likewise, Kim goes against the for-profit systems that currently exist, from financial institutions to large technology companies.

It is for this reason that in May Kim introduced Assembly Bill A10462. But what is it about? Well, it seeks to establish a decentralized protocol and privacy preservation.

But it doesn’t end there, earlier this month, Kim and his team proposed a crypto and digital payment platform for New York State. The interesting thing is that this was known to people as the “I come public.”

For those who have not heard of Venmo, it is a mobile payment service. To access Venmo you must provide basic information and bank account information.

Consequently, Kim views a crypto system as a golden opportunity in many ways: promoting local spending and facilitating the granting and use of tax credits, among others.

In addition, Kim also considers that such a platform can be used in times of crisis, referring to the problems that the current system has had to satisfactorily deliver all the stimuli.

In this sense, the project would be the largest experiment in “complementary currencies” since the establishment of the Federal Reserve in 1913.

Sure, the question is: How successful or successful will the crypto project be in New York? From Kim’s perspective, it has a fair chance of success and acceptance.

He explains that a certain sector is already predisposed to electronic payments and, therefore, the transition would be much easier as there is a culture of not using cash.

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