US President Donald Trump with VP Mike Pence on his side had a recent shouting match with Nancy Pelosi the incoming US House of Representatives speaker and Chuck Schumer the US Senate minority leader. The matter of contention was that Trump is pushing ahead with his border wall which he wants the Democratic Leaders to support so that he could get sufficient votes in the Congress and Senate to fund the $26 billion border wall on the Mexico border.
Democrats under the leadership of Maxine Waters, Nancy Pelosi, Chuck Schumer, and Elizabeth Warren have blatantly dismissed the fence idea arguing that that is a wrong strategy for deterring illegal immigration from Latin America.
However, President Trump may soon get funding for his pet project to the delight of his tens of millions of hard-core supporters. In the new strategy forwarded by a Mississippi Republican Congressman Steven Palazzo, “border bonds” are the best strategy for crowdfunding for the security wall as Democrats are resilient in their opposition. Steven first introduced the idea via his Facebook page where he wrote that referred to the project as a “safe investment into the security and safety of the USA.”
Interestingly, the currency of contribution is not only US Dollars and Mexican Pesos, but also Cryptocurrencies such as Bitcoin (BTC).
The Political Stakes Are High
Since a huge number of Americans especially Trump supporters and Republicans agree to the fact that the open Southern Border is a national security threat, Congressman Steven believes that this population segment would be willing to contribute for the course. This is according to an article written in the Sun Herald publication.
However, this idea will be subject to legislation and it is highly likely that it could get bipartisan support mainly for two reasons.
Firstly, it may avert the looming government shutdown that President Trump has threatened to undertake should his border bill not receive a bipartisan support approval. Hence, most Congress members will possibly embrace a new alternative that delivers the President’s wishes. Secondly, participation in the crowdfunding could serve as a measure of public interest and most US leaders on both sides of the divide would wish to involve the American citizenry in the exercise.
Border Financing Targets A Hard Cap Of $5 Million
President Trump has been demanding $5 Million from Congress. Hence, the new project will target to collect the same amount of money and more to sufficiently upgrade the remainder of the wall that is breachable especially around the Tijuana area.
Additionally, the project is strikingly similar to another idea by Ohio Rep. Warren Davidson that proposes a Border Wall Trust Fund collection to be facilitated by the US Treasury. According to Davidson, Cryptos and other fiat currencies are much welcomed. Most importantly, the strategy to build the wall from the Ohio politician proposes a Blockchain platform under the management of the Treasury to manage the funds.
This Could Change The Course Of Blockchain And Cryptos
Discussions about Cryptocurrencies and Blockchain have largely been focusing on regulation, hence the utilization of Digital Assets in national interest endeavors such as this one may usher in a new era of positivism in the government circles.
In the meantime, the Cryptocurrency community is looking forward for the Congress to adopt the proposal.