It seems that former presidential candidate Andrew Yang has taken a deep dive down the Web3 rabbit hole.  Covered: Andrew Yang Sees Potential For Web3 How Web3 Has Already Tackled Poverty Bitcoin, Web3, and the crypto industry as a whole are quickly leaking their way into the collective mindshare of US Congress. With proponents from […] The post Web3 Is A “Profound Opportunity” To Fight Poverty, Says Andrew Yang appeared first on CryptosRus.

Web3 Is A “Profound Opportunity” To Fight Poverty, Says Andrew Yang

It seems that former presidential candidate Andrew Yang has taken a deep dive down the Web3 rabbit hole. 

Covered:

  • Andrew Yang Sees Potential For Web3
  • How Web3 Has Already Tackled Poverty

Bitcoin, Web3, and the crypto industry as a whole are quickly leaking their way into the collective mindshare of US Congress. With proponents from nearly every level of government, from mayors to governors, senators to presidential candidates, the conversation surrounding crypto is getting louder by the day. Former presidential candidate Andrew Yang is now chiming in to share his vision for an exciting Web3 future.

RECOMMENDED: MIAMI MAYOR TO LAUNCH BITCOIN WALLETS FOR CITY RESIDENTS

Andrew Yang Sees Potential For Web3

“The most profound opportunity to fight poverty lies in Web3 technologies.

Unfortunately, our leaders in DC don’t really get these technologies, they’re a little bit nervous about them, so that’s what we have to change. We have to let them know that we can give rise to a new generation of financial services and create tons of jobs, right here in the US.”

Former presidential candidate Andrew Yang is launching “Lobby3,” a lobbying effort to push for positive regulation on Web3 innovation in the US. The Lobby3 community features its own membership token, which can be minted starting on February 28th.

Yang is making a big statement here, claiming that Web3 could be the solution to poverty that we haven’t thought of before. While he may have a harder time getting his colleagues in DC to agree, a much younger, tech-native generation of voters may have an easier time supporting his vision.

Game theory can play out on the nation-state level, but it appears we’re also seeing it take place among our presidential candidates and politicians as well. If Yang decides to run for office again, what could his platform look like given his involvement and aspirations for Web3 and crypto?

RECOMMENDED: GOOGLE INVESTING IN PLAY-TO-EARN GAMING

How Web3 Has Already Tackled Poverty

Back in the summer of 2021, a unique play-to-earn blockchain game captured the attention of the crypto space by storm after escalating to new all-time highs from its adoption in the Philippines. The game I’m talking about, of course, is Axie Infinity.

Playing Axie Infinity earns you Smooth Love Potion (SLP). This in-game currency has been stashed by players throughout the world, and as you can see in Indonesia, has given people the opportunity to create real wealth in their lives.

While SLP has since come down in price and Axie Infinity’s long-term future is still up in the air, the game proved that we can use our technology to bring wealth generation to those without access to first-world financial services. The details as to how Web3 can alleviate poverty on a national scale will still take quite a while to iron out, but we’ve tapped into a new potential source of wealth creation if we can develop a sustainable solution for it. Axie Infinity is just a mere step in the right direction and represents the first iteration of what Web3 and play-to-earn gaming could become.

The post Web3 Is A “Profound Opportunity” To Fight Poverty, Says Andrew Yang appeared first on CryptosRus.