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Steve Bannon is creating a cryptocurrency to fund global populism

Steve Bannon is creating a cryptocurrency to fund global populism
[Photo: Flickr user Gage Skidmore]

The former White House chief strategist is working on creating a cryptocurrency to reward political activism and to “provide an alternative to the financial system,” reports Wired. The source for the news is a blockchain investor and entrepreneur Jeffrey Wernick, who claims to be working on the cryptocurrency project. As Wernick explained:

“It would provide financial services, and a reward for political activity. Not necessarily for one party, but just for participating in the process: for supporting independents, not just Democrats or Republicans . . . [It will be a reward for activism] not necessarily [in] one particular party—but more for political activism outside of the establishment.”

Wernick says the new cryptocurrency will be aimed at the “deplorables”–what Hillary Clinton labeled Trump supporters in 2016. Wernick’s assertion are backed up by an interview Bannon gave to CNBC last week in which he said, “We are working on utility tokens for the populist movement. They’re the future.”

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