Trump’s “Golden Age” is also for cryptography | Opinion

Trump’s “golden age” extends to the crypto, blockchain and the Web3 revolution, Boris Boler Birowitzki argues.

Disclosure: The opinions and opinions expressed here belong to the authors solely and do not represent the views or opinions of the crypto.news editorial.

On July 27, 2024, Donald Trump stepped into the front of the Nashville crowd and told them exactly what they wanted to hear. At the Bitcoin 2024 conference, he promised to make the United States the “crypto capital of the planet” if elected, and to fire Gary Gensler soon.

Its appearance, along with the movements of other pro-cryptographies, brought together a larger voting block than some people trusted it. The Kamala Harris campaign tries to deal with them later with a bodied message and almost success. Trump was a “crypto candidate” without any doubt.

“We have regulations, but from now on, the rules will be written by people who love your industry, not by hating your industry.”

Regardless of what he said (or did not say) during the inauguration, the promise is already proven true. His appointments, nominations and actions all suggest that common sense regulations are ongoing. His “golden age” against America can include blockchain technology.

People who love our industry

Not everyone involved in Crypto will have the opportunity to negotiate with policymakers. I have been lucky enough to be in the room for some of these conversations over the years.

It was essentially a stone wall at every turn, even portraying innovative solutions with the same brush as fraud. Industry leaders are extremely frustrated and have either had surgery elsewhere or at least stopped raising their hands to ask questions. That didn’t happen, despite some party members pushing internally for change.

So the industry has been waiting. Just because he promised he would get out of the way, it was waiting for support for Trump to steadily increase among the crypto community. When he won reelection, they cheered (quietly, in some cases) as it meant they could chase their ambitions again. They were able to build what they had dreamed of.

Over the next few months, the next administration strengthened its faith and support. Just a few weeks after the election, Trump nominated Howard Lutnick, a massive supporter of Stubcoin and a massive supporter of brokerage Cantor Fitzgerald, as secretary of commerce.

These are people who love our industry. They are people who don’t get in the way of innovation or create rules that box us out.

Not all of that is golden

Not just investment, but its innovation will determine whether Trump’s American golden age will come to fruition.

We currently have a limited number of solutions, but improvements are needed to see widespread enterprise adoption. For example, take Stablecoins. In theory, they are the perfect answers to cross-border transactions, financial management and trade finance, but institutions still hesitate to integrate them.

Part of the question is their inherent anonymity and what it means for regulatory agencies. The chain they exist is dedicated to opposing central banks, and the only contract you build on is Band-Aid.

A protocol-level identification layer as found in Concordium is required, providing the accountability and compliance necessary to meet regulatory requirements and user trust.

Approach for 2025

Like many of his peers in the Trump administration, Bescent focuses on innovative policies for innovative technology. When asked about the dark history of codes, he simply explained that the US needs a “2025 approach.”

Listen and listen to the crypto industry. It has long been trapped in a loop of 20th century policy. In some way, there has been a change, and the US appears to be poised to take the lead. If they are separated from their own methods, Trump’s “golden age” extends to the crypto, blockchain and the Web3 revolution.

Author: Boris Bohrer-Bilowitzki

Boris Bohrer-Bilowitzki He is the CEO of Concordium, an L1 blockchain and technology company. He previously worked as Copper.co’s Chief Commercial Officer and as Senior Relationship Manager for Newscape Capital Group in London. He attended St. Gallen University and received an MBA from Imadec University.