Tevi Troy and Jeremy Epstein write for the Weekly Standard about potential political impacts of blockchain.

As the technology empowering Bitcoin and other cryptocurrencies, blockchains have been in the news a lot lately. Bitcoin, of course, has both roiled markets and is making world governments nervous about the possible creation of an alternative currency while simultaneously thrilling investors in crypto markets. Blockchain, however, is about so much more than just enabling digital currencies. It can be applied to everything from dating to contract law. And blockchain might even upending politics. …

… New technologies have long impacted politics. Franklin Roosevelt was a genius at using radio, which he used to speak to the voters of New York when he was governor even before using it for the fireside chats that helped reassure America during the Great Depression and World War II. John F. Kennedy used television creatively and effectively in his 1960 campaign for president. After the election, Kennedy noted that, “We wouldn’t have had a prayer without that gadget.”

In 2008 and 2012, Barack Obama used Facebook to reach his voters in getting elected and then reelected president; Donald Trump almost certainly would never have become president without his use of Twitter to go directly to the people and get over the heads of a media that clearly had issues with him.

With that in mind, blockchains present a number of interesting opportunities for conservatives, if they see the wisdom of taking advantage of them.