A candidate for a local government seat in the city of Taipei has made history as the first politician in Taiwan to ever receive a campaign donation in bitcoin.
According to BusinessNext, the bitcoin donation was made to Hsiao Hsin-chen who is vying for a seat in Taipei City Council on a New Power Party ticket. The US$325 bitcoin donation comes after a month since the political candidate announced that he would be accepting cryptocurrency donations.
Per Hsiao, the donation will have not only political implications but also technological ones as the adoption of cryptocurrency donations could assist in keeping the political system of Taiwan clean owing to the transparent and public nature of blockchain technology on which bitcoin is built.
“Accepting bitcoins as a political donation is more symbolic than the act appears,” said Hsiao.