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Yesterday, US representative Warren Davidson (R-OH) stated in an interview with NPR that blockchain technology could be used as a means to finance the border wall that has become little more than a political football in Congress , with President Donald Trump recently threatening a government shutdown if Congressmen Democrats failed to provide funding for the national security project on which he based his presidential campaign.
Davidson and other Republicans are investigating alternative means of financing the wall if federal funding does not materialize. Crowdfunding and voluntary contributions from citizens are one of the ways they have investigated thoroughly, with Davidson introducing a bill recently nicknamed "Buy a brick, build the wall" that would allow the Treasury to accept donations in a " Trust Fund border "account is ordered to establish for the financing of the border wall.
It is essentially an invitation for pro-Trump Americans to put their money where their mouth is. The bill does not specifically mention the use of blockchain technologies in receiving such donations, but the interview with the NPR of Davidson gave them the opportunity to clarify a little bit. his vision. In the interview, Davidson said:
"You could do with this type of crowdfunding site, or you could even make blockchain and you could have wall coins, but you could collect the money, and frankly, if we put it in the Treasury, you could even accept the Mexican pesos."
CCN wanted to be clear about the meaning of this statement, so we contacted the Davidson DC office for comment. They said definitively that it is not – at the moment, at least – trying to build an encrypted token or a tokenised asset for wall financing. There will be no "wall coins", so keep this in mind if some scam artist tries to develop something like this by hoping to trick conservative hopefuls. What Davidson is really saying is that the wall will be built in one way or another, and in a world where we have blockchain, you can find ways to finance such a massive project that is completely devoid of budget dollars.
A number of US-funded interests have supported Donald Trump and his strategy on the border wall with funding and moral support during his presidency. The Border Wall Trust Fund, if approved, would give them the opportunity to send money specifically for the completion of one of Trump's biggest and most controversial promises.
The blockchain could be used, if necessary, in different ways. Smart contracts may be developed for the release of funds based on certain targets, or the equivalent of Treasury bills could be issued for the first time on a blockchain. In any case, similar things are probably just pipe dreams at this point. Warren Davidson is but a voice in a House of Representatives that will be composed of a majority of pro-regulators and anti-frontal democrats who will start in January.
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