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South Korea elects president today with cryptocurrencies in electoral programs

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For the first time, the technologies that are shaping the Web3 (cryptocurrencies, ICOs or NFTs) are present in the South Korean presidential elections. Actually, it could be said that it is the first time that the crypto-blockchain industry is part of the electoral programs of presidential candidates. Thus, the nearly 44 million people who are called to elect a president in South Korea today do so having heard their candidates talk about cryptoactives.

Both opponents Lee Jae-myung in government and Yoon Suk-yeol have talked about cryptocurrencies amicably during the election campaign. Something that is not surprising considering the high rate of adoption of cryptocurrencies in the country. As reported by Cryptotime, the three main exchanges in the country have more than 5 million crypto accounts.

South Korea and cryptocurrencies

 

Yoon, who issued more than 20,000 NFTs with photos and videos of himself during the campaign, in order to attract younger voters, has promised to change the regulation of the crypto industry to accelerate its growth. Both candidates, who show similar voting intentions in the polls, have pledged to legalize ICOs. The Initial Coin Offerings, prohibited since 2017 in the country, is a way to finance projects using cryptocurrencies.

 

The leading role that blockchain and cryptocurrencies play today in the South Korean elections, we will probably see it in elections in other countries. In Spain, in the November 2019 elections, a group of people linked to the crypto/blockchain industry asked political parties to introduce cryptocurrencies in televised debates.

#Blockchain Question, in the 2019 Spanish elections

The group, called #PreguntaBlockchain, was made up of 70 people and sent a certified letter in blockchain to the different parties that were running for the elections. In it they explained that the debate on blockchain and cryptocurrencies was at the center of the economic field and in a good part of society. Especially in the best informed, he picked up the document. The signatories considered that bringing the matter to political debate meant an exercise in informative democracy. The activity of the #PreguntaBlockchain collective took place mainly in a Telegram group. The group received no response.

For the sociologist Javier Callejo Gallego, the next General Elections in Spain may be those of cryptocurrencies. «The electoral campaign, with its respective electoral programs, in which the political parties talk about cryptocurrencies. They will have to apply themselves and get involved. In short, they will have to stop being a mystery, because it remains to be seen what the strategic lines of the different Spanish political parties are with respect to cryptocurrencies,” Callejo said in an article.

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