All of us remember what Donald Trump’s campaign was based on. His biggest argument was about regulating immigration in the United States. The language he used to formulate some this argument was met with quite an adversity, but nonetheless, he is now the leader of the “free world”.
His biggest promise to the population was that he would build a wall, stretching across the large border the US shares with Mexico. In president Trump’s mind, this would be a perfect solution to illegal immigration. Well, it has been quite some time now, but the wall is nowhere to be seen. But president Trump continues to promise that it’s on its way.
The Wall Facing a wall
The wall faces a wall of problems itself actually. Reportedly, the project will cost the USA about $5 billion to have it done. Many people have been considering where this money will come from. Some say it should be funded completely by the state, meaning one of US’s budgets need to be $5 billion less, which is obviously not something that’s going to happen.
So how is Trump going to build the wall? With his own funds? Of course not. Well, it seems like a congressman from Ohio has come up with an idea on how to actually fund the project.
A Madman or a G
According to reports, Congressman Warren Davidson, who is an Ohio representative, has proposed a bill, which was named the “Buy a brick, build a wall”. Now on the surface, this seems fine and nothing weird for the population, but the congressman suggests that a special cryptocurrency be made for the fundraising part of the project. The project is named (you’ll have to hold your laughter here) the Wall Coin, which will allegedly help President Trump, who is apparently welcoming towards cryptocurrencies, to gather his USD$5 billion and start delivering on the promise he made to his voters.
The bill doesn’t clearly state that it wants to create the digital currency. More specifically, it is implied that a crowdfunding website will be created where people will be able to donate to the cause and “help the President out”. As a means of compensation for their “patriotism”, the digital coin seemed like a good option to the congressman.
But there are some problems with the project as the ICO regulation in the USA may technically not allow it. Therefore, Davidson is also working towards regulating ICOs to the point where digital coins will be classified under a completely different asset type.
There is no clear indication if the project will actually happen. And even if it does, there’s no guarantee that the US population will donate US$5 billion to a president they chose, who promised them that HE would deliver the wall. But if the project goes through, it may actually be good for crypto companies as the law may loosen at least a little bit to allow it.
Giorgi is a news reporter and financial analyst at www.forexnewsnow.com He has 3 years of experience in analyzing the financial markets of Forex and cryptocurrencies. He also likes making hidden jokes in his articles.