Steve Bannon, Donald Trump’s former chief White House strategist and ex-chief executive of Alt-Right news website Breitbart News, is currently exploring the possibility of launching his own ICO, according to an article published in the New York Times today.
Whilst Bannon is thought to be studying the ICO model for his own business interests, the NYT article makes reference to a previous meeting between Bannon and Harvard academics in which he touted the creation of a “deplorables coin”, in reference to an infamous description of Trump supporters made by Hillary Clinton during the last US presidential election.
Identity Politics Coins
Whilst likely nothing more than a tongue-in-cheek suggestion, Bannon’s reference to a “deplorables” cryptocurrency to represent the Alt-Right movement and its “disruptive populism” would not be the first time that an identity movement or political campaign finds itself embodied by a crypto-currency.
As reported just today on ICOExaminer, the HK-based LGBT Foundation is itself currently creating a crypto-currency as part of what it hopes will represent the currency of a blockchain-based Pink Economy.
Earlier in the year, the CROAT, a pro-Catalonia independence coin, surfaced and was immediately countered by the emergence of the Tabarnia coin which was sought to promote the interests of anti-independence activists.
However, so far such coins appear to have no real inherent value other than their symbolic content although some commentators have previously suggested that such identity coins could underpin future economies that are tied to specific political interests.