Candidate for the Florida congress plans to deliver an Ethereum token in his campaign.

An independent candidate for Congress of the state of Florida, in the United States, plans to deliver an ERC-20 token in the Ethereum blockchain among his voters and campaign volunteers. The distribution would be as a souvenir and as an incentive to participation.

The campaign team of the candidate requested at the end of May approval before the Federal Elections Commission (FEC). In this request, the Reyes team refers to the “distribution to potential volunteers and any voter interested in participating in our experiment.”

The same document reports that the Omar2020 committee, in charge of the Reyes campaign, created a total supply of 10,000,000 tokens OMAR2020Token (OMR) for this purpose. This can be confirmed through etherscan.io, where it is seen that said supply is in 2 directions of OMR.

“We believe that the use of ERC-20 tokens can transform the way our country handles campaign financing, in a way that allows average citizens to opt for positions on parity ground with other well-funded candidates.”

System of incentives and awards at the end of the campaign
The Omar2020 committee also explains in the letter that OMR has no monetary value. In any case, it will serve as an “incentive to organize events, register voters and other campaign activities.”

The campaign team also presented a table that will guide the delivery of tokens according to the various actions that interested parties can carry out. The maximum reward of 1,000 OMRs will be awarded for each organized campaign event. For participating in one of the “tutorial” events on cryptocurrencies, they will deliver 1 OMR.

Other actions, such as registering as a volunteer, referring a person who ends up registering or enrolling in the campaign mailing list will generate incentives of 50, 75 and 100 OMR respectively. However, they explain in their request, that table would be subject to modifications according to the observations of the FEC itself.

Potential positive response
The opinion of the FEC has been favorable up to the proposal of Reyes. Through a draft advisory opinion published on July 5 and signed by the president of the FEC, Ellen Weintraub, the agency notes that the proposed distribution can be done “because OMR tokens do not constitute compensation.”

“The OMR tokens are materially indistinguishable from traditional forms of campaign souvenirs and nothing in the Law or in the Commission’s regulations prohibits a campaign committee from distributing free campaign souvenirs to volunteers or supporters.”

The candidate for the Florida Congress will not be able to make changes to his incentive proposal with the token. This is how the FEC warns in the same document. If you do, these changes would not be included in the current opinion of the institution. Therefore, “the applicant should not rely on this opinion as a support for their proposal”.

The comment process on this document ended this Wednesday at noon, local time. Now, the commission will make the final decision in a next meeting, scheduled for next July 25.

Sourcecriptonoticias.com

Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.


You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *