The 2024 US presidential election is heating up, and technology is playing a central role. Vice President Kamala Harris, the Democratic presidential candidate, has made a clear appeal to the crypto and AI industries, signaling a tech-forward approach to her potential administration.
At a Wall Street fundraiser in late September, Harris stated, “We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors.” This statement has resonated with tech leaders, particularly in the crypto space.
CNBC reported that Chris Larsen, co-founder of Ripple, donated $1 million worth of XRP tokens to the pro-Harris super PAC Future Forward. This contribution highlights the growing influence of crypto within political circles and the potential for the industry to shape policy.
Charles Dray, CEO and founder of Resonance Security, a company specializing in AI-powered security for smart contracts and crypto assets, sees Harris’s statement as a positive sign. “Regardless of who the president of the United States is, they will eventually find that they will need to support emerging technologies. The question isn’t if, the question is how. How the government will implement effective measures that both support technological advancement, but limit malicious use of new technologies,” Dray stated.
However, Dray also expressed concerns about the potential consequences of a lack of support from the US Executive Branch. “The lack of support would lead to missing puzzle pieces which will be needed for technological evolution and leave the country scrambling to catch up to standards that will eventually be mainstream. We’ve seen this happen with previous technologies like internet coverage for example. Some regions who did not prioritize implementing the infrastructure for new technologies in the past are still struggling to catch up.”
The use of AI in the 2024 election has already sparked controversy. The Associated Press reported that both Democrats and Republicans have utilized AI-generated images in their campaigns, some of which are clearly fake and humorous. However, the Trump campaign has been accused of using AI to create images that support false claims about Haitian immigrants in Springfield, Ohio. This incident highlights the potential for AI to be misused for political manipulation.
Upland, a Play-to-Earn (P2E) GameFi project, recognizes both the potential and risks of AI. Danny Brown, Chief of Staff at Upland, sees blockchain as a potential solution to address concerns about authenticity and copyright in the age of AI-generated content. “With the proliferation of AI content in social platforms, it is becoming increasingly complex to verify the source and authenticity of information. Ensuring copyright protection and proper usage of visual content online, especially with regards to images and photos, depends on the ability to verify origin. Because of blockchains decentralized, immutable, and permissionless attributions it’s the best suited technology to serve as a “source of truth” for image source and authenticity.”
Dray emphasizes the need for policies to regulate irresponsible use of AI technology. “The attack on one figure or group usually reveals weakness in other influential figures and groups using similar technologies. This creates a very risky situation for a large population and it’s probably a good reason to implement policies. For cybersecurity, policy will not be enough. The standardization of defensive and offensive security protections, approved by security experts, must go hand in hand with policies,” Dray said.
As the 2024 election unfolds, the role of AI and crypto will continue to be scrutinized. The ongoing debate about regulation, ethical use, and the potential impact on democracy will likely shape the political landscape for years to come.