Adam Kokesh, the first libertarian candidate of the 2020 U.S. presidential race, has appointed Alastair Caithness as his chief blockchain policy advisor. The purpose of this role will be to work on the development of a sovereign cryptocurrency, known as AmeriCoin.

Going forward, Caithness will focus on the development of a cryptocurrency pegged to all the assets of the Federal government. These include the U.S. government’s substantial land, energy, gold, timber and mineral reserves, Associated Press reported on March 11. 

To achieve the American Dream

As such, Kokesh aims to create a new decentralized monetary system, with AmeriCoin as its backbone. Through AmeriCoin, citizens are set to receive universal basic income and compensation for existing governmental tax and policing policies. In the candidate’s view, institutional inequities such as these prevent citizens from achieving their own vision of success within American society, or the so-called American Dream.

Caithness’ professional background is marked with the development of an oil and gas security token dubbed ZiyenCoin, which focuses on the development of blockchain and the Internet of Things within the oil sector.

Caithness believes that AmeriCoin will transform the country’s economic landscape and ensure the financial freedom of all citizens. He stated:

“AmeriCoin has the potential to restore liberty to all people in the United States, and we are building a dream team of blockchain experts to join me in developing this important project. There is no better way to return power to the American people than by democratizing ownership of the Federal government’s assets through tokenization.”

Crypto supporters in the politics

Previously, John Berlau, a senior fellow at libertarian think tank, Competitive Enterprise Institute, criticized the United States Securities and Exchange Commission’s (SEC) approach to regulating cryptocurrencies. Berlau claimed that blockchain technology and cryptocurrencies are transformative innovations, the potential of which has been stunted by “burdensome regulation.”

He argued that the government’s crackdown on these technologies prevents entrepreneurs from experimenting with novel approaches and applications.

In February, Andrew Yang, another cryptocurrency enthusiast and presidential candidate, suspended his campaign for president. Yang is also known for supporting a basic universal income and for his forward-thinking approach to blockchain technology and cryptocurrencies.