Which Candidate Is Better for Web 3.0 and Blockchain – Trump or Harris | Amznusa.com

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The 2024 Presidential election of the United States is only a couple of months away.

With Joe Biden out of the race, Kamala Harris and Donald Trump from the Democratic and Republican parties, respectively, remain the top contenders for the leadership of the most powerful country in the world.

Interestingly, for the first time, the blockchain industry is a key voting bloc that could play a very important role in the emergence of the 47th President of the United States.

Usually, stakeholders in the blockchain industry, including Web 3.0 users and cryptocurrency enthusiasts, maintain a reserved stand on politics.

Ethereum co-founder Vitalik Buterik even recently sounded a note of warning against voting for candidates simply on the basis of their allegiance to decentralized technologies.

However, the stakes are higher for the upcoming elections.

The right candidate could mean the difference between a relapse into the stifling “regulation by enforcement” environment the industry currently battles under the Biden administration or a renewed approach that will drive innovation and sustain investor’s interest.

The voting significance of the blockchain/crypto community is also not lost to the Democratic and Republican parties, as contestants from either side have made moves to appeal to major industry stakeholders.

All of these underline a crucial question – “Which candidate is better for the advancement of blockchain/Web 3.0 interests in the United States?”

To get a better context, let’s look at the industry’s current state.

Pre-elections

Thirty-eight percent of workers in the United States admit to using blockchain technology in their businesses, while over 40% of American adults own cryptocurrency.

With the approval of Bitcoin ETFs earlier this year, there has been increased nationwide interest in digital assets and cryptocurrency.

However, blockchain in the United States continues to grapple with a tricky landscape.

Unclear regulatory guidelines, a perceived ‘operation choke point 2.0’ and the determined attempts of the SEC (Securities Exchange Commission) under Gary Gensler to clamp down on “unregistered securities” have seen Coinbase, Ripple and Terra Labs, among others, slammed with contentious lawsuits.

The ideal presidential candidate, among other things, would address policy change, promote fair regulations and encourage pro-blockchain development.

The Trump option

Key industry players – like Ryan Selkis, the CEO of Messari, the Winklevoss brothers of Gemini, Elon Musk and many others – consider former President Donald Trump as the ideal choice for blockchain innovation.

And with good reason. Trump has been increasingly vocal in supporting digital assets and blockchain technology.

A major highlight was the last Bitcoin conference in Nashville, where he made the headlines for his position in the industry and his newfound love for crypto.

But this was not the case just a few years back.

During his tenure as the President of the United States in 2021, Trump came down heavily on crypto in a post on X, where he clearly stated he was not a fan of digital assets.

His change of mind and explicit declaration of support for blockchain has been a rallying call that has reflected positively on public polls.

Beyond verbal reassurance, the republican nominee’s financial disclosure documents reveal he has over a million dollars investment in Ethereum and three separate NFT collections that have made over $7.5 million in sales.

His campaign team has also encouraged and received donations in crypto to the tune of $25 million at the end of July 2024.

At the Bitcoin conference, Trump also commented about firing Gery Gensler, prioritizing blockchain tech growth in the US and shutting down CBDCs (central bank digital currencies).

These and many more of Trump’s bold and vocal stance on the blockchain have endeared him to the crypto majority and positioned him as a much-needed ally to turn the tide politically.

Kamala Harris

However, Polymarket, the world’s largest decentralized prediction market, shows a keenly contested battle ahead, with Kamala Harris trailing only a few points behind Trump.

Harris clinched the presidential nomination of the democratic party after Joe Biden stepped down and is vying to become the first female President of the United States.

Unlike Trump, Kamala Harris has refrained from any public commentary on how to approach the blockchain industry.

Similarly, the recently released 92-page official platform of the DNC (democratic national committee) had no direct or implied mention of blockchain, crypto or digital assets, sparking rumors that Kamala Haris may toe the Biden line.

On the flip side, however, there are already positive signs that a democratic presidency may favor blockchain sentiment, especially with ongoing efforts from the DNC to reach out and interact with industry stakeholders.

Billionaires like Mike Cuban, with extensive investments in Web 3.0 companies including Polygon, OpenSea and Arbitrum, are also betting on the democratic candidate.

In addition, the commitment of Tim Walz, Harris’s running mate, to clean energy policies could significantly shape the future of crypto mining and pave the way for a more environmentally sustainable approach.

The personal stance of Harris concerning the blockchain industry, however, remains unclear and may be the biggest drawback for moderate voters and the younger, more tech-savvy demography.

Beyond elections

In the broader tech ecosystem – especially with the emergence of AI, the impact of which is currently sweeping access to all sectors – what will Trump or Harris’s win mean for solutions incorporating blockchain technology?

Since its explosive resurgence last year, AI (artificial intelligence) has highlighted the need for decentralized technologies to bridge the infrastructural and computing gap that traditional tech companies have not been able to fill.

Decentralized marketplaces and DePIN (Decentralized Physical Infrastructure Networks) have enjoyed growing popularity in the past year due to their affordability and competitive edge, especially in executing AI projects.

However, a tight leash on AI development will spill over to blockchain, limiting the potential capabilities of Web 3.0 and DePIN.

An elected Trump will be actively seeking a repeal of the 2023 Biden AI executive order in a bid to loosen the reins and give more room for development.

While this is good news for innovation, critics are concerned about the potential deleterious effect of unchecked growth in the AI sector.

The explosive pace of acceleration of generative AI technology – although capable of yielding short-term gains for Web 3.0 – may create new social problems.

Take, for example, the emergence of dangerously accurate deep fakes.

On the other hand, democratic Harris will most likely seek to uphold the executive order, pushing for more guidelines to structure the sector with emphasis on consumer protection laws – an approach sources claim the majority of Republican and Democratic voters inherently support.

Rounding off

November 5th, 2024, is gearing up to be a pivotal moment for the future of Web 3.0 in the United States.

With blockchain as a major talking point, regulatory clarity and the perceived ability to implement favorable policies will play a crucial role in the outcome of the elections.

Currently, only the Trump candidacy has articulated and maintained these ideals.

Therefore, except for a last-minute solid pro-blockchain move by the democratic team, Donald Trump remains the prime choice for many industry stakeholders and enthusiasts.

Daniel Keller is the CEO of InFlux Technologies and has more than 25 years of IT experience in technology, healthcare and nonprofit/charity works. He successfully manages infrastructure, bridges operational gaps and effectively deploys technological projects. An entrepreneur, investor and disruptive technology advocate, Daniel has an ethos that resonates with many on the Flux Web 3.0 team – “for the people, by the people” – and is deeply involved with projects that are uplifting to humanity.

 

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 The 2024 Presidential election of the United States is only a couple of months away. With Joe Biden out of the race, Kamala Harris and Donald Trump from the Democratic and Republican parties, respectively, remain the top contenders for the leadership of the most powerful country in the world. Interestingly, for the first time, the
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Amazon’s journey from a modest online bookstore to the world’s largest online retailer is a narrative of innovation, disruption, and relentless ambition. Today, Amazon dominates the e-commerce landscape, setting the standard for online shopping with its vast product selection, lightning-fast delivery, and customer-centric approach. This article explores the evolution of Amazon’s leadership in online shopping, examining the key strategies, innovations, and challenges that have shaped its rise to the top.

The Early Days: From Bookstore to Everything Store

Amazon was founded by Jeff Bezos in 1994 as an online bookstore, capitalizing on the internet’s potential to reach a global audience. The decision to start with books was strategic; books were easy to ship, did not require much storage space, and had a universal appeal. From the beginning, Bezos envisioned Amazon as more than just a bookstore. His long-term goal was to create the “everything store,” a one-stop-shop where customers could find and purchase anything they needed online.

The initial success of Amazon was driven by its innovative approach to e-commerce. While traditional bookstores were limited by physical space, Amazon offered an extensive catalog of books that was virtually limitless. The company’s early focus on customer satisfaction, with features like customer reviews, personalized recommendations, and a user-friendly interface, set it apart from competitors.

By 1997, Amazon had gone public, and its rapid growth continued. The company began to expand its product offerings beyond books, gradually adding categories like music, electronics, and toys. This diversification was essential to Amazon’s strategy of becoming the go-to online retailer for all consumer needs. The company’s ability to offer a wide range of products, combined with its commitment to customer service, established it as a leader in online shopping.

Innovation and Expansion: The Prime Revolution

One of the most significant milestones in Amazon’s evolution was the launch of Amazon Prime in 2005. For an annual fee, Prime members received free two-day shipping on eligible purchases, a proposition that was revolutionary at the time. The introduction of Prime was a game-changer, transforming customer expectations and further solidifying Amazon’s leadership in online shopping.

Prime was more than just a shipping service; it was a strategic move to create customer loyalty. The subscription model incentivized customers to make Amazon their default shopping destination, as the more they used Prime, the more value they received. Over time, Amazon expanded the benefits of Prime to include streaming video and music, exclusive deals, and other perks, making it an indispensable service for millions of customers.

The success of Prime can be measured by its membership numbers, which have grown exponentially over the years. As of 2024, Amazon Prime has over 200 million members worldwide, a testament to the value it offers. The Prime membership model has been so successful that it has influenced the broader retail industry, with many competitors launching their own subscription services in response.

The Technology Edge: Fulfillment and Logistics

Amazon’s dominance in online shopping is not just a result of its vast product selection and customer-centric approach; it is also rooted in its technological prowess. The company has invested heavily in building a state-of-the-art fulfillment and logistics network, which has been a critical factor in its ability to offer fast, reliable delivery to customers.

Amazon’s fulfillment centers, which are strategically located around the world, are marvels of automation and efficiency. These facilities use advanced robotics, artificial intelligence, and data analytics to manage inventory, process orders, and ship products with unparalleled speed. The company’s ability to deliver products quickly and accurately is a key reason why customers choose Amazon over other online retailers.

In addition to its fulfillment centers, Amazon has developed a vast logistics network that includes its own fleet of planes, trucks, and delivery vehicles. The company’s investment in logistics has allowed it to reduce its reliance on third-party carriers like UPS and FedEx, giving it greater control over the delivery process. This vertical integration has enabled Amazon to offer services like same-day and next-day delivery, further enhancing its competitive advantage.

Moreover, Amazon’s logistics innovations extend beyond its own operations. The company’s delivery service partner (DSP) program has created opportunities for small businesses to operate delivery routes for Amazon, while its crowd-sourced delivery platform, Amazon Flex, allows individuals to deliver packages using their own vehicles. These initiatives have expanded Amazon’s delivery capacity and ensured that it can meet the growing demand for fast shipping.

Expanding the Ecosystem: Marketplace and AWS

Another key component of Amazon’s success in online shopping is its ability to create a comprehensive ecosystem that extends beyond retail. The Amazon Marketplace, launched in 2000, has been instrumental in expanding the company’s product selection and driving revenue growth. The Marketplace allows third-party sellers to list their products on Amazon’s platform, giving customers access to a wider range of goods and enabling Amazon to earn a commission on each sale.

The success of the Marketplace has been staggering. Today, over half of the products sold on Amazon are from third-party sellers, many of whom are small and medium-sized businesses. The Marketplace has also been a critical factor in Amazon’s global expansion, as it allows sellers from around the world to reach customers in different markets without the need for a physical presence.

In addition to the Marketplace, Amazon Web Services (AWS) has played a crucial role in the company’s growth and profitability. Launched in 2006, AWS offers cloud computing services to businesses, allowing them to store data, run applications, and scale their operations with ease. AWS has become the backbone of the internet, powering everything from startups to large enterprises. The revenue generated by AWS has given Amazon the financial flexibility to invest heavily in its retail operations, including its logistics network, Prime, and original content for Prime Video.

Challenges and Criticisms

While Amazon’s leadership in online shopping is undeniable, it has not been without challenges and criticisms. The company’s dominance has raised concerns about its impact on competition, with critics arguing that Amazon’s scale and market power give it an unfair advantage over smaller retailers. There have also been concerns about the treatment of workers in Amazon’s fulfillment centers, with reports of grueling conditions and low wages sparking public outcry and calls for better labor practices.

Amazon has also faced scrutiny over its impact on the environment. The company’s rapid delivery services, which require a vast logistics network, contribute to carbon emissions and environmental degradation. In response, Amazon has pledged to achieve net-zero carbon emissions by 2040 and has invested in renewable energy and electric vehicles to reduce its environmental footprint.

Despite these challenges, Amazon continues to grow and innovate, constantly pushing the boundaries of what is possible in online shopping. The company’s ability to adapt to changing consumer preferences, invest in technology, and create a seamless shopping experience has ensured its position as the leader in e-commerce.

The Future of Amazon in Online Shopping

As Amazon looks to the future, it faces both opportunities and challenges. The rise of new technologies like artificial intelligence, machine learning, and automation will continue to shape the e-commerce landscape, and Amazon is well-positioned to leverage these innovations to enhance its operations and customer experience.

The company is also likely to continue expanding its ecosystem, integrating its retail operations with other services like AWS, Prime Video, and Alexa. This integration will further entrench Amazon in the daily lives of consumers, making it even more difficult for competitors to challenge its dominance.

In conclusion, Amazon’s leadership in online shopping is the result of a relentless focus on customer satisfaction, innovation, and scale. From its early days as an online bookstore to its current status as a global e-commerce giant, Amazon has consistently pushed the boundaries of what is possible in retail. As the company continues to evolve, it will undoubtedly remain a dominant force in the world of online shopping, shaping the future of commerce for years to come.