AmeriCoin - The Pathway to Monetary Freedom, Tokenization and the American Dream?

Is cryptocurrency the tool to achieve the “American Dream”? Adam Kokesh, the leading libertarian candidate of the 2020 US presidential race has revealed the plan to develop AmeriCoin cryptocurrency. The development of AmeriCoin will be led by Alastair Caithness, the Chief Blockchain Policy Advisor appointed by Kokesh.

Purpose of AmeriCoin

The announcement of AmeriCoin is part of Kokesh’s localization plan, which aims to mitigate the reliance of the Federal Reserve due to the instability of the fiat currency system. The recent global stock market crash following the disagreement on oil price between Russia and OPEC nations, interest rate cut by the Federal Reserve and macroeconomic uncertainty caused by Coronavirus have reignited the debate on whether Bitcoin is considered a “safe-haven” asset. Oleksandr Lutskevych, CEO & Founder of CEX.io believed that US and UK investors expect Bitcoin to serve as a hedge against currency depreciation, which indicates the American’s demand in seeking alternatives to fiat currencies. Kokesh identified the need of creating a decentralized monetary system and AmeriCoin will serve as the backbone to achieve his goals.

The New Vision to Monetary Freedom and Tokenization

Unlike cryptocurrencies such as Bitcoin, AmeriCoin will be backed by assets of the Federal Government including gold, timber, land, energy and mineral reserves. If Kokesh becomes the next US President, he intends to distribute an equal number of AmeriCoin to the entire population of the US. Such distribution attempts to eliminate unfair government policies on taxation, aiming to serve as the unit of universal basic income. As a result, citizen’s wealth is no longer controlled by the Federal Reserve which in turn brings them monetary freedom.

With the advent of AmeriCoin, Caithness is confident in restoring liberty, financial and monetary freedom for the Americans. “It’s an honor to work with Adam Kokesh as he seeks to transform American society. The burden of federal tax is one of the main reasons young people are having such a difficult time developing a sound financial start to life. I am confident that Adam’s initial idea to create an American cryptocurrency can be combined with the rapid advances in the architecture of asset-backed tokenization to develop AmeriCoin as a force for financial freedom. AmeriCoin has the potential to restore liberty to all people in the United States, and we are building a dream team of blockchain experts to join me in developing this important project,” she added.

Both Camps Care About Cryptocurrencies

Cryptocurrencies are gaining popularity between both Democratic and Republican parties. Former Democrat presidential candidate Andrew Yang is renowned for his friendly approach towards cryptocurrencies, which he asserted that blockchain should be incorporated to modernize the voting systems. Yang is also a supporter of cryptocurrencies when he highlighted the importance to regulate digital assets.