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Over Half of Voters Support Crypto Funding of Political Campaigns

Clovr held a survey recently to study the prospect of legalizing the use of virtual currencies to fund candidates in political elections. The survey’s participants included Democrats, Republicans, and independents. Out of the 1,023 voters who took part in the poll, only 21% disagreed while 60% were in favor.


 

Are Cryptocurrencies Steady and Safe?

The survey’s questions checked a few vital topics; such as the stability of the exchange price and whether using virtual currencies was safe enough. Most voters were in favor of cryptocurrencies, in both cases.

In the case of the steadiness of the exchange rate to US Dollars: 62% who stated that they were exceedingly knowledgeable about cryptocurrency claimed that it is steady enough. In terms of political parties; 40% of Democrats, 35% of independents, and 52% of Republicans also supported this claim.

When it comes to safety, 54% of all survey participants agreed that cryptocurrencies were a secure option for making contributions. Some participants stated that they are well-informed regarding the digital currencies, 73% of them said that security was irrelevant. If we divide the participants by political affiliation, the results would be: 52% of Democrats, 45% of independents, and a majority of 63% Republicans were all in agreement.

An interesting point was that around 25% of the participants declared that the probability of supporting a campaign financially increased if they could use cryptocurrencies. 25% of them were Democrats, 22% were independents, and 27% were Republicans.

Apprehensions and Misgivings

Due to the current political atmosphere in America with its constant state of friction, discord, and a suspicious attitude towards authorities and institutions; it was inevitable that the survey would detect a sense of apprehension regarding the integration of cryptocurrencies into political practices.

The first issue that made participants nervous was that this integration would open doors for foreign interventions in elections. Those concerned included 66% Democrats, 56% independents, and 58% Republicans.

Another issue that some of the respondents brought up was the untrustworthiness of government officials when it came to digital currencies. A majority of 62% participants believed that incorporating cryptocurrencies in American politics will lead to an increase in illegal campaign finance practices.


Mr. Mike Cribari, the co-founder of Clovr, observed that the results of the survey may be conflicting, but they are rather insightful. As shown in the survey, a majority of participants supported the integration of crypto in politics, while they also expressed their collective suspicions regarding politicians and how they would use crypto technology and currencies.

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