As is well known, the next year will be the presidential elections in the united States, where republicans and democrats once again will contest the charge. On this occasion it is the struggle between the re-election of Donald Trump and the appearance of the young Andrew Yang. Therefore, their respective campaigns have begun. We want to highlight what has been proposed by Yang, which wants to regulate the cryptocurrencies. Clarification: CriptoTendencia is a means impartial, which its sole purpose is the dissemination of information. At no time is supporting some political party or candidate.
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Regulating high-tech Firms in the TWENTY-first century
So is titled the technology proposition on the part of the candidate Andrew Yang on the 14th of November. Gave to know your opinion and ideas in a post on his campaign blog. Stresses that the main idea is the following: “The big technology companies are the winners of the economy of the TWENTY-first century. Have accumulated too much power, benefitting in large measure of our personal data-and responsibility-unexplained: we have reached a point at which the government should intervene. And we are starting to take notice, with approximately 50% of u.s. adults favoring more regulation of technology companies. These companies themselves are calling for a regulation (up to you to propose details)”. In which you can appreciate the view of Yang with respect to the technology companies today. In addition, it considers that in the united States the regulations are obsolete, for which they require a change, according to the demand of the people, businesses and the economy. Stressing that not only the laws of the country are obsolete, but their regulators: “it Is embarrassing to see the ignorance displayed by some members of Congress when they talk about technology, and anyone who has seen the Congress to question Mark Zuckerberg is well aware of this. Without a basic level of understanding, it is not reasonable to expect proper regulation of the major technology companies, or the drafting of legislation that would address the technological problems of critical that we will continue to confront in artificial intelligence and cyber security.” This has an international impact, and Yang knows it:
“Other countries that are ahead of us in terms of regulation, are leading this new market and dictate the rules that we will follow once we get to the day”.
Work Plan
In the publication of Yang explains that its proposal is based on four fundamental pillars: Regulate the use of data and privacy, setting the data as a property right. The associated rights will allow people to retain ownership and share in the economic value generated by their data. To minimize the health impacts of modern technology on our people, particularly our children. Create a Department of Economy of Attention that will focus on smart phones, social networks, games and applications. Focused on how to design them and use them in a responsible manner, including the restrictions and guidelines of age. Stop the spread of misinformation that is eroding the confidence in our institutions. Increase the VAT in the digital advertisements to accelerate the shift of business models that are driven by the advertisements, to require the disclosure of all the ads, regulate the activity of the bots and algorithms, addressing the gray area between the publishers and the platforms. Adopt a regulatory approach for the TWENTY-first century to increase the knowledge and capacity of the government while it uses new metrics in order to determine competitiveness and to identify quickly the emerging technology that needs regulation.
Cryptocurrencies in the matter
Andrew Yang explained that the cryptocurrencies and digital assets already make up a large amount of economic activity. The government response has been delayed. “There has not arisen a national framework to regulate these assets (cryptocurrencies), with several federal agencies claiming jurisdiction in the conflict”. The following two tabs change content below. I am a student of economics, interested in innovation and technological development, always faithful to that tomorrow will be a better day.