Andrew Yang’s Take on Blockchain and AI Regulation in the US
During his speech at the North American Blockchain Summit (NABS), Andrew Yang, former presidential and NYC mayoral candidate, and founder of the Forward Party, expressed concerns about the underutilization of blockchain technology in the United States and the lack of regulation for artificial intelligence (AI). He emphasized the need for positive use cases for blockchain to address issues faced by Americans, rather than just negative news coverage of prominent figures in the industry.
Yang highlighted the potential of blockchain in addressing poverty and suggested using mobile phones for voting. He criticized the US regulatory approach, describing it as reactive and inadequate. He also pointed out how technological advancements could exacerbate existing political divisions.
Insights from Social Media and Legislative Challenges
Yang also discussed the governance of social media under Section 230 of the Communications Decency Act of 1996, expressing concerns about legislative inefficiencies in addressing emerging technologies like AI. He noted that while legislation on AI is progressing in the European Union, the US legislative body is lagging behind.
Hot Take: A Call for Action
Yang’s observations underscore the urgent need for proactive regulation and positive use cases for blockchain technology in addressing societal challenges. His insights also highlight the importance of legislative agility in response to rapidly evolving technologies like AI.
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