Hi there everyone, TheRingMaster is back and the most trending news on both Web 2.0 and Web 3.0 or Hive is the attempted Assassination of Donald Trump in a just ended campaign rally.
I'm probably not the first to tell you this here on Hive as many good authors such as the likes of @edicted @tarazkp and @josediccus have already shared some nice blogs on the topic.
Thankfully no nominee died because that would have brought about way too much drama in the world. Sadly a couple of people were injured in the crossfire and there was recorded death of a man which Joe Biden just acknowledged in a video I'll share. However I think because of this situation the 2024 presidential election landscape in the US has changed dramatically in favor of Donald Trump.
- I'm not a Trump or Biden supporter, I only support anyone that would create a better environment for Web 3.0, Cryptocurrency and Blockchain Technology to thrive.
The campaign of Donald Trump, which obviously was already powerful with voting polls showing more people preferring him as president of America over current president Joe Biden, took a very decisive turn after suffering an assassination attempt.
- There are quite a lot of videos of the incident on YouTube, X and other social platforms.
Though he only sustained minor injuries from the event, and if you could see from the thumbnail of the video below presented by Fox News, he had blood at the right side of his face, he's been attended to my health personnel and seems perfectly fine.
His security immediately flocked around him when they heard the shots, the police arrived at the scene and now this has become a topic for discussion among political circles. The media is still not clear on who was responsible for the attempted Assassination but this has made people more supportive of Donald Trump.
Biden's floundering campaign Makes Trump Look Good
If you had the chance of watching the first presidential debate between Donald Trump and Joe Biden this year, you'd realize that Biden kind of screwed his own self over and made himself look inadequate to run for president one more time. He kept stumbling over his own words while Donald Trump looked confident and healthier.
Biden also seemed to lose his train of thought on numerous occasions raising doubts about his ability to lead. These performance issues coupled with a failed attempt to make Trump look bad by bringing up sex scandals and now an attempted Assassination of Trump is really putting all the attention on Donald Trump now making it more difficult for Biden to be in the minds of people.
I can't say that Joe Biden was responsible for the attempted Assassination because I don't have personal evidence. He made a video a couple of hours ago from the time of writing this blog claiming to have spoken to Trump to find out of his physical state. Biden confirms that Trump is not too injured and they'll be praying for him.
I think all this has placed Trump as the frontrunner in this year’s election because of the dramatic events surrounding him.
- It's basic psychology here. You can't necessarily win an election if you're not known and in the minds of voters. All these situations have made Trump trend and what he and his supporters need to do is to keep making him look good and he's set to win.
Now that Trump is evidently closing in on victory, it is very necessary that we as a Web 3.0 community think about the positive impact it would bring in the Crypto and Blockchain world.
Donald Trump Stands With Crypto
I've blogged many times last month about the war between Government and Cryptocurrency. Many governments due to the decentralized nature of Crypto hate its very guts because it takes power away from their hands and gives full financial control to the people.
Any political party could have used standing for crypto as a way to attract all cryptocurrency lovers but they really hate the concept and technology. Donald Trump however stands for cryptocurrency and made this very clear in one of his recent rallies.
He said that he is going to make sure that the future of cryptocurrency and Bitcoin would be made in the USA and that's a really bold statement. This was actually not his opinion about cryptocurrency some years back though.
Years ago Donald Trump was asked his opinion about Bitcoin and the stock market. He clearly doesn't invest in the stock market whenever it's high but he considered Bitcoin as a scam.
He didn't state out clearly that he hated crypto and wants it to be taken down or fully controlled by government, but only considered it as scam. However his main basis was that he believes strongly in the US dollar and would want the dollar to be the currency that thrives and dominates.
Trump's current stands on cryptocurrency is very good for the crypto market and would also make him look good as a presidential candidate. I'm only hoping that he stands true to his words if or when he gets elected as president. This pledge strongly resonates with a substantial fraction among voters who see digital currency as finance future.
I'll briefly discuss the impact of Donald Trump becoming president to the Crypto World and also how the development of Crypto and Web 3.0 would be influenced
Clarity in Regulation and Government Support
One of the biggest challenges we face as cryptocurrency lovers and users are the regulations Government seek to put on crypto which in many ways limits the currency and disrupts the idea of decentralization. Many governments have gone so far as to ban crypto in their country. Despite the efforts to limt crypto, the technology still thrives because believe it or not, it seems be the best answer for financial liberation of anyone from the Government.
It's darn right next to impossible for government to track all your expenses and therefore tough to calculate income taxes which is their biggest income revenue from the nation.
A Trump presidency will likely result in a move to establish more explicit legal frameworks for all cryptocurrencies. Trump’s administration may reduce uncertainties that is currently impeding the crypto market to boost innovation and adoption. At the moment because of the fear most non-crypto users have due to government's negative views on the currency, it's difficult for them to enter the crypto world.
When Trump and his able administration embrace crypto and create a better country that supports the use of crypto, more will join the space and that will be good for Web 3.0 or blockchain based communities. This is one thing Hive can take advantage of to grow.
Institutional Adoption
We already see lots of big institutions, companies and even countries adopting cryptocurrency and making crypto investments. @geekgirl shared a blog a couple of days ago on the German government selling all their Bitcoins and although I really don't think anyone should sell an asset set to appreciate assuredly, it shows huge transactions being made in the crypto world.
Global companies that are literally powerhouses in the stock market accept a number of cryptocurrencies as payment. Companies like Microsoft, PayPal, Starbucks and Tesla to mention a few have all adopted cryptocurrency to some level.
I believe Donald Trump’s backing could lead to even higher numbers of institutional investments in crypto. Also I think that this support might further legitimize digital currencies, which would cause major financial institutions to incorporate crytpo into their offerings.
If all these huge organizations start adopting cryptocurrency, it could force the banks and governments to adopt it as well because of the fear of getting left behind or losing huge financial shares.
Blockchain Innovation
Donald Trump's presidency can help provide an enabling environment for blockchain technology, which is one of the pillars of Web 3.0. Since crypto is set to thrive under his leadership, Blockchain technology will be free to advance without government interference.
- This is a really good news for Hive and I'm hoping this sets Hive in a bull run to return back to it's glory days where Hive was well over a dollar. But of course let's wait till after the election to see what actually happens.
So as a consequence of Blockchain thriving, decentralized applications dApps, smart contracts and more efficient digital identities may advance. The future of Web 3.0 is brighter than ever before.
If Trump stays true to his words and takes a positive approach towards cryptocurrency, he could promote their use as a medium of exchange on an even larger scale. We would have many startups that accept cryptocurrency payments or even have a digital national currency.
Challenges and Considerations
This is certainly good news to the crypto world and it helps Trump's rally making him look good in the eyes of the cryptocurrency community however even if he wins and does the right things in favor of crypto, it would not be without some challenges.
The volatility of crypto still exists and that scares people away from investing or using it. Thankfully we have Stablcoins for that issue. I believe there will be more people holding Stablecoins than volatile ones. This is why HBD should be a primary focus on Hive.
Sadly there's also the possibility of its misuse
and environmental issues from mining crypto excessively but I believe that will be tackled.
The goal of Trump’s government would have to be finding a way to successfully strike a balance between invention and legislation of cryptocurrency.
In all this, I'm very hopeful about the future of Cryptocurrency and Web 3.0. Thank you so much for taking the time to read. As always I would love to get your feedback on the topic.
Let's Make Web 3.0 Great ✊