Binance CEO and Ethereum co-founder believe blockchain could improve the current voting system.

Binance's CEO Changpeng Zhao and Ethereum co-founder Vitalik Buterin believe blockchain-based voting apps would significantly improve current voting systems.

Binance’s chief executive Changpeng Zhao and Ethereum’s co-founder Vitalik Buterin both believe that a new blockchain-based voting system is required to improve democratic processes in the United States. Responding to prolonged uncertainty over the result of the controversial 2020 U.S. presidential election, Binance CEO tweeted that now is the right time for developers to build “a blockchain-based mobile voting app.” CZ argued that such a voting system would reduce the time taken to confirm the outcome of an election, enhance voters’ privacy, and eliminate questions surrounding the validity of results.

 

Binance CEO urged developers to begin working on such a voting system. 

Binance CEO CZ tweeted, “develop something now, get it approved (obviously hardest step), and get 300 million-plus (fully KYC’ed) users in 4 years time, and any capable developer should be willing to do it for free.” Ethereum co-founder Vitalik Buterin also shared the same point of view, adding that the technical challenges with making a secure cryptographic voting system are significant (and often underestimated), but IMO this is directionally 100% correct, he added. Buterin further clarified that a cryptographic approach doesn’t necessarily mean a blockchain approach, although he explained it could be used to “maximize anti-censorship guarantees.”

 

Cardano founder Charles Hoskinson also believes blockchain voting is the right thing. 

Cardano founder Charles Hoskinson also believes blockchain voting is the right path to travel, last week suggesting that Cardano had been “building the infrastructure” for this specific use-case. However, the CEO and founder of MyCrypto, Taylor Monahan, countered the point saying that with the number of security issues facing current blockchain and cryptocurrency networks, the community is not ready for “blockchain democracy.” She further pointed out that we cannot come close to securing fake internet money that tech geeks play with and manipulate for fun,” citing initial coin offerings (ICOs), scams, Ponzi’s, hacks, and insecure smart contracts among the current hurdles. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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