Patrick Byrne, the former CEO of Overstock and a Trump donor, has urged for Blockchain technology to be utilized to alter the US electoral voting system, just days after Trump dubbed Bitcoin a “scam.” Bitcoin was also dubbed the “future of money” by him.
Byrne highlighted a wide range of crypto subjects in a YouTube interview, including the ability to reform Wall Street, create global riches, and give users the right to select how their private data is treated.
Byrne spoke about how Blockchain may be used to make the US voting system 100 percent fair and unreproachable regarding charges of vote-rigging. Binance CEO CZ and Ethereum co-founder Vitalik Buterin also share the same sentiments.
However, according to a paper published by MIT last year, cybersecurity flaws could cause more problems than answers.
Byrne claims that the 2020 election was “hacked,” and he’s published a book about his findings, which show how electoral fraud cost Donald Trump the presidency.
According to a Forbes article, Trump supports some of Byrne’s conspiracy theories about the 2020 election. He has stated that specialists and audits on the subject will assist him in regaining power by August.
Byrne said the following on Bitcoin and central bank mismanagement:
“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.”
According to him, politicians simply pumping money into the economy would inevitably result in a crash. He further mentioned that fiat currency allows governments to decide who can and cannot spend the money. As a result, he considers Bitcoin to be a “hedge against dictatorship.”