Patrick Byrne touts blockchain for US voting system

Patrick Byrne touts blockchain for US voting system

Fresh on the heels of Trump calling Bitcoin a “scam”, Patrick Byrne, the former CEO of Overstock, and Trump fundraiser, called for Blockchain technology to be used to overhaul the US electoral voting system. He also termed Bitcoin as the “future of money”. 

In an interview posted on YouTube, Byrne discussed a wide range of crypto topics including the potential to reform Wall Street, creating global wealth, and giving power to the user to decide how their private data is treated. 

A major topic that Byrne pronounced on was that of using Blockchain to make the US voting system 100% fair and unreproachable regarding claims of fixing votes. CZ of Binance, and Vitalik Buterin, co-founder of Ethereum, both echo these views. 

However, an MIT report, released last year, stated that there were cyber security vulnerabilities that might create more difficulties than solutions. 

Byrne makes the claim that the 2020 election was “hacked”, and has written a book on his research that pointed to how “election fraud cost Donald Trump the White house”.  

According to an article on Forbes, Trump himself believes some of Byrne’s conspiracy theories on the 2020 election, and has said experts and audits on the matter will help him to get back into power by August. 

On Bitcoin and central bank mismanagement, Byrne said: 

“Bitcoin is a form of money that no central bank issues, so think of it like gold” 

“No government official can create it. Some mandarin can create a room full of new dollars. He can’t create a room full of new gold. Well Bitcoin has that same property. It’s governed by the laws of mathematics. It comes into existence in a way that cannot be accelerated.” 

He stated that the way politicians just pump money into the economy will always end in a crash. He also remarked that fiat currency gives governments the power to say who can spend that money and who can’t. He therefore sees Bitcoin as a “hedge against authoritarianism”.  

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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