Mobile Commerce Insider Featured Article

July 28, 2014

Political Candidates Now Accept Bitcoin Donations

A decision by the Federal Election Commission (FEC) in May made Bitcoin a legal currency for campaign donations, prompting many to incorporate support for it in their fundraising efforts. This marks a major step toward wider recognition and development of the relatively young technology.

New Hampshire is a pioneer of cryptocurrency, found to have the most Bitcoin transactions per capita of any state, and its political candidates are making sure to align themselves with their constituent’s interests. State Representative Mark Warden (R-Manchester) is reported to be the first sitting elected official in the country to take donations by Bitcoin, and about a dozen other representatives are following in his footsteps. Warden raised $1,600 of his $11,000 for the 2012 electoral cycle with Bitcoin, and found that donations originated all around the world from people enthusiastic about his embracement of the currency.

“They didn't know anything about me or about Goffstown, New Hampshire,” Warden said. “But everyone in that world wants to see Bitcoin become mainstream.”

The primary solution for these candidates who wish to accept Bitcoin is the PayStand platform. The startup is the only payment service that offers support for digital currency transactions as well as traditional methods like eChecks and credit cards. The immense convenience of all payment methods being centralized was not lost on adapters of the platform, eliminating the need for more than one single solution to add Bitcoin support to normal avenues. In addition, the interface can be integrated with any website, social network or mobile application without a need for extra programming.

Bitcoin and other digital currencies are inevitably growing in popularity as more and more businesses – and even the State of California – are adding support for them. The candidates in New Hampshire as well as a few others scattered around the country who have adapted this technology will continue to enjoy a competitive edge as they welcome technologies of the future.




Edited by Maurice Nagle




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