Vice President Harris Outlines Vision for US Leadership in Blockchain and AI Technologies

TLDR:

• Kamala Harris pledges US dominance in blockchain, AI, and quantum technologies
• Harris emphasizes the importance of these technologies for future economic competitiveness
• Her economic plan includes fostering growth in emerging tech sectors while maintaining regulatory protections
• Mark Cuban endorses Harris and expresses interest in potentially heading the SEC
• Congressman Ro Khanna supports Harris’ pro-innovation stance on digital assets

Vice President Kamala Harris has unveiled plans to position the United States as a global leader in emerging technologies, including blockchain, artificial intelligence (AI), and quantum computing.

In a recent speech at The Economic Club of Pittsburgh, Harris emphasized the critical importance of these innovations for maintaining America’s economic competitiveness on the world stage.

Harris’s vision, detailed in her newly released 80-page economic plan, aims to create an “opportunity economy” that fosters innovation while simultaneously protecting consumers and investors. The Vice President stressed the need for clear, consistent regulations to guide the development of digital assets and other cutting-edge technologies.

“We need to continue to lead in the technologies of the future,” Harris stated during her address. She highlighted blockchain, AI, and quantum tech as key areas where the US must maintain its dominance, particularly in light of increasing competition from countries like China.

From Harris’ latest speech today she says that the US should become “Dominant in Blockchain”

I’m sure the “silence isn’t enough” “digital assets isn’t enough” crowd will move the goal post again.

But: progress!

pic.twitter.com/kTEKqFOqMf

— Adam Cochran (adamscochran.eth) (@adamscochran) September 25, 2024

The Vice President’s stance on emerging technologies has garnered support from notable figures in the tech and political spheres. Billionaire entrepreneur Mark Cuban publicly endorsed Harris, praising her approach to innovative technologies and digital assets.

Cuban expressed particular approval of Harris’s apparent disapproval of “regulation through litigation” and hinted at the possibility of leadership changes at the Securities and Exchange Commission (SEC) under a Harris administration.

Cuban also mentioned his potential interest in heading the SEC if offered the position in a Harris administration. This statement has raised eyebrows in both the tech and financial sectors, given Cuban’s background as a successful entrepreneur and investor.

Congressman Ro Khanna has also voiced his support for Harris’s technology-forward approach. Khanna emphasized the importance of embracing digital assets, comparing resistance to cryptocurrencies to opposing technological advancements like smartphones or laptops.

He described Bitcoin as a “modern version of gold” for young investors and stressed the need for regulations that allow for the growth of digital assets while safeguarding consumer interests.

Harris’s economic plan, released alongside her speech, provides more detail on her vision for the tech sector. The plan emphasizes creating a favorable business environment with transparent rules for developing digital assets and other emerging technologies.

This approach aims to strike a balance between encouraging innovation and maintaining strong regulatory frameworks to protect consumers and investors.

The Vice President’s focus on blockchain and AI technologies represents a shift in her campaign messaging, which had previously been relatively quiet on cryptocurrency and blockchain issues. At a recent Wall Street fundraiser in Manhattan, Harris framed AI and crypto as integral parts of her “opportunity economy” vision.

Harris’s stance on emerging technologies contrasts with that of her political rival, Republican nominee Donald Trump, who has been more actively courting the crypto industry. Trump recently visited a Bitcoin-themed bar in New York City, signaling his interest in the sector.

Analysts at investment management firm VanEck suggest that the outcome of the upcoming November election could have significant implications for the crypto sector.

While both Harris and Trump are viewed as potentially positive for Bitcoin, a Harris presidency might accelerate some of the structural issues driving Bitcoin adoption. However, the analysts note that both administrations would likely maintain or increase fiscal spending, potentially leading to further quantitative easing.