Cryptocurrency Will Reportedly Power Finance in Independent California Post ‘Calexit’

Inspired by Brexit, a group called Yes California is leading the charge for separation of California from the United States. And it seems, cryptocurrency will form the backbone of the financial system in the independent country of California.

California To Ditch The US For Freedom, & The US Dollar For Crypto

According to the latest update on California’s supposed exit from the American mainland, a blockchain-based crypto asset will lay the financial foundation of ‘Calexit’.

Calexit campaign founders have appointed Alastair Caithness, founder and CEO of Ziyen Energy, to action the same. As the official cryptocurrency advisor to Yes California, Mr. Caithness will develop a plan for citizens of free California to avail free healthcare and a basic income using this digital token.

Speaking on Yes California’s cryptocurrency-powered finance plan, Alastair said:

The policy will involve developing a blockchain-backed cryptocurrency, which democratizes ownership of the California Government’s land, resources and assets through tokenization into a usable currency.

It is the intention for it to be used to finance a level of free healthcare, free education and a form of basic income for all California citizens who have struggled to achieve economic liberty under the current US Federal Government system.

How Exactly Will Cryptocurrency Help Free Californians?

For starters, land could have a tokenized representation on a blockchain-based system. There could be hundreds and thousands of these land tokens, and investors could buy and trade them instead of actually purchasing a piece of ground.

According to Mr. Caithness, the money raised from exchanging land-based cryptocurrency tokens could

help implement a Universal Basic Income system for Californians.

Also, as per Yes California:

The money could also go towards developing other community benefits such as free healthcare and free education

But Then Why Appoint A Scottish National For The Job?

Speaking about Mr.Caithness’s cryptocurrency-based finance approach, Yes California president Marcus Ruiz Evans said Alastair was right about having a Universal Basic Income model and financial assistance.

According to Evans, Mr. Caithness foresaw the direction where the world is going wrt crypto, and it made every bit of sense to assign him to develop a cryptocurrency model for free California. He said:

I am delighted to have a leader of Alastair’s ingenuity and knowledge lead our policy in cryptocurrency.

Also, the primary reason behind appointing Alastair, a Scottish national, is because ‘the model for a Sovereign California has been developed from the Scottish Independence Referendum’.

Yes California has publicly advocated the cause of a ‘free Scotland’ which can be seen from the latest update on their Twitter handle:

California supports Scottish independence and Scotland will stand shoulder to shoulder with the people of California in our mutual struggle for independence. #Calexit pic.twitter.com/1G8zJDvkzs

— #Calexit (@YesCalifornia) August 31, 2020

The Yes California president thinks that this is the right move for the state as it is “is the world’s fifth-largest economy and has what it takes to be its own country”.

The Californian government has agreed to hold a public petition for Calexit this year with plans to conduct a vote by 2024.