The uses of crypto keep expanding as wide as the endeavors of humanity. While there have been suggestions of conducting a blockchain-based voting system, political supporters now prefer to donate for their candidates in crypto.
Because of how crypto has gone mainstream, even the Federal Election Commission allowed donations to be made in crypto since 2014. However, it has not been explored as much as fiat.
On this note, a report has it that one of the supporters of Holly Kim donated Litecoin that is worth $3 towards her campaign project. Holly Kim, the current Treasurer of Lake County, is running again next year.
Kim remarked when she received the donation that collecting political campaign donations in crypto is a new way to leverage modernity and ensure the inclusion of tech-savvy people into politics.
The coins she is accepting—at least for now—are Dai, Litecoin, Dogecoin, Bitcoin, Ethereum, Bitcoin Dash. According to Kim, she said she would like to hold the coins long-term for as long as possible before converting them to fiat.
Having said this, the respective regulators have noted that there should be accountability concerning the details of political campaign donors who paid in crypto.
Regarding this, Kim said she would duly ensure that her donors comply. In her words she enthused, “This could reflect how crypto donations are received in the future, so we want to be sure we do everything right.”