Amid a dizzying night of political drama, a bright spot appeared for the fintech and cryptocurrency communities — the election of Jared Polis (D) to Governor of Colorado.
Polis is known for many things, such as being the first openly gay state governor ever elected and a dot-com millionaire to the tune of $400 million, but it is his interest in cryptocurrency that has the blockchain community cheering. Polis was also a co-founder of Techstars, a global network of seed-stage accelerators founded in Boulder, Colo. His lieutenant governor will be former state representative Dianne Primavera.
Such high-profile support may give the cryptocurrency community much-needed validation as the long bear market continues and institutions turn away.
Polis was elected governor of Colorado last night, earning some 51.6% of the vote, though votes were still being counted at press time. (Here’s a live look.) Colorado is already notable for its legalization of marijuana, and crypto enthusiasts hope they will now find a similar safe harbor there. It’s also a shorter flight from both coasts than to the current crypto hotspot, Malta.
Congrats to @jaredpolis, an advocate for sound cryptocurrency policy, on becoming the next Governor of Colorado
Here’s an example of what I mean https://t.co/5KMi6QiVOX
— Neeraj K. Agrawal (@NeerajKA) November 7, 2018
During his gubernatorial run, Polis put a statement on his campaign site on blockchain and his wish to see Colorado benefit from it. Initiatives in the statement included better cybersecurity and safer voting for Coloradans, digitization of public records, and a “council for the advancement of blockchain technology use.”
Mike Dudas, founder, and CEO of the crypto media and research firm The Block said Colorado may become a crypto hub in the wake of the election:
All signs point to Colorado becoming a huge crypto hub in the coming years. I’m hearing more and more folks based there, clearly will be government friendly, easily accessible from coasts, great place to live and visit… https://t.co/6TzBWTv8ch
— Mike Dudas (@mdudas) November 7, 2018
Polis was already known for the attention he paid to crypto as a Congressman. When Congress proposed a ban on bitcoin back in 2014, Polis earned plaudits in the community for his ridicule of the measure and vow to use his position to protect cryptocurrency from burdensome regulation. He also naturally was one of the first politicians, if not the first, to accept campaign donations in cryptocurrency.
Gavin Newsom, former mayor of San Francisco and newly elected governor of California, is also described as a bitcoin “early adopter.”1 - Reader Likes This Post