The Path of the Polymath
Blockchain: A Non-Partisan Opportunity in the 2024 Election
10.15.24
The blockchain community has seen a whirlwind of headlines in 2024. From the Bitcoin bull market to SEC actions and legislative rumblings, the landscape has been anything but quiet. However, President Biden's unexpected withdrawal from the presidential race on July 21, 2024, sent shockwaves through the 2024 election, ushering in a new era of political possibilities with Kamala Harris as the new Democratic nominee.
Days after this announcement, I attended Bitcoin 2024 with brothers from the Atlanta Blockchain Center (ABC). 20 brilliant African American Web3 innovators, building on the blockchain, and highlighting the African American community's growing diversity and potential in Web3. During the conference, we had a chance to talk about our various experiences in blockchain technology as builders, investors, creatives and innovators. As we navigated the conference halls, we were reminded that we were are part of a global community of innovators. The ABC itself is a testament to this, serving as the nation's sole blockchain innovation center dedicated to fostering a diverse Web3 ecosystem. It's a vibrant hub of activity, reflecting Georgia's burgeoning blockchain community, which boasts over 46,310 crypto advocates according to Stand With Crypto.
In September, Stand With Crypto finished its own five-state tour, creating buzz with its events, generating contact with tens of thousands of voters through its website, allowing voters to check their registration, register and even look up how “crypto-friendly” various politicians have been. The political engagement for crypto voters has been cultivated and is building.
The 2022 Ariel-Schwab Investor Survey reveals a key insight: African American voters are significantly engaged with cryptocurrency:
Adoption: 25% of Black Americans own cryptocurrency, surging to 38% among those under 40. This contrasts with 15% ownership among white Americans, rising to 29% for those under 40.
Motivation: 23% of Black investors cited excitement about cryptocurrency as their reason for entering the investment world, with 11% stating it was their first investment.
Preference: Twice as many Black Americans (8%) ranked cryptocurrency as the best investment choice compared to white Americans (4%).
Risk Perception: Black investors are less likely to view cryptocurrency as risky (68%) than their white counterparts (73%).
On October 15th, Kamala Harris unveiled an "opportunity agenda for Black men," addressing economic concerns and aiming to improve life outcomes for African American men. This very specific policy initiative intended to stimulate political outreach to African American men (a key demographic in the 2024 election), coupled with Georgia's ongoing status as a 2024 election battleground state, and the ABC's diverse, thriving community, presents a very unique opportunity for both campaigns to engage with a diverse and influential demographic. Blockchain technology, with its potential for economic empowerment and innovation, could be a key policy area for connecting with these voters in the current election cycle and in future cycles as a more mature policy narrative develops. By recognizing the non-partisan nature of blockchain and its appeal across demographics, both candidates can tap into a powerful force for change in the upcoming election.
Early voting begins today in Georgia. I would invite both candidates to consider visiting the Atlanta Blockchain Center as they traverse the State of Georgia and make their case for the presidency down the final stretch.
