Clovr recently surveyed 1,023 registered U.S. voters to learn how the American public views the possibility of political candidates accepting cryptocurrency donations for campaign financing. A majority of 60 percent said cryptocurrency donations should be treated the same as fiat, with only 21 percent disagreeing.
Safe and (Relatively) Stable
Regarding the topic of security, 54 percent of respondents in the Clovr survey answered that cryptocurrencies were safe enough for political donations. Breaking it down by party affiliation, 63 percent of Republicans agreed cryptocurrency was secure enough to be used for political purposes, with 52 percent of Democrats and 45 percent of independents saying the same. Additionally, 73 percent of those polled who claimed to be knowledgeable about cryptocurrencies believed security was not an issue.
Voters appear less certain about the question of price stability with regards to USD exchange rates, but still supportive in relatively high numbers. The survey showed 52 percent of Republicans think cryptocurrency is stable enough for political campaign donations, with just 40 percent of Democrats and 35 percent of independents believing the same. In contrast, 62 percent of those who self-identity as ‘extremely familiar’ with cryptocurrency answered that it is stable enough.
One result from the survey that should be of particular interest to politicians is that almost 25 percent of respondents said they would be more likely to financially back campaigns if they accepted cryptocurrency as an option. This is true for 27 percent of Republicans, 25 percent of Democrats and 22 percent of independents.
Some Concerns Remain
With the current state of deep political division and mistrust of public institutions in the U.S., it’s no surprise that the survey also found some fears about incorporating cryptocurrency into the elections process.
A total of 60 percent of respondents were concerned that cryptocurrency donations could increase foreign interference in American elections. 66 percent of Democrats were concerned about this issue, but also 58 percent of Republicans and 56 percent of independents.
Besides the possibility of outside interference, American voters also seem to think that their elected officials can’t be trusted with cryptocurrency. In total, 62 percent of respondents answered that cryptocurrency donations would increase illegal activity within the U.S. political system.
“The overall findings are contradictory but intuitive: overwhelming support for crypto as a currency and a technology, countered by an equally unanimous distrust of what people, particularly those in politics, might do with it,” commented Clovr co-founder Mike Cribari.
Are you more likely to support a politician that accepts cryptocurrency donations? Share your thoughts in the comments section below.