Brian Rose, an independent mayoral candidate in London and host of the London Real podcast, is pursuing the implementation of a new London cryptocurrency to bolster financial literacy across Greater London.

According to Rose, blockchain-based voting systems have the potential to enhance transparency and public trust in electoral processes. In an exclusive interview with Cointelegraph, he emphasized the importance of moving voting systems onto the blockchain to ensure identity verification and immutable records.

Rose acknowledged the decline in public trust in political parties and electoral processes in recent years, citing statistics from the Office for National Statistics (ONS) indicating a decrease from 20% to 12% in trust in political parties between 2022 and 2023. While he expressed confidence in the United Kingdom's existing voting system, Rose advocated for the adoption of blockchain technology to mitigate human error and enhance trust in the electoral process.

In addition to advocating for blockchain-based voting, Rose aims to cultivate a more crypto-friendly environment in London to reclaim its status as a global financial hub. He highlighted the necessity of addressing the lack of financial education in the country and proposed the creation of a new London cryptocurrency and a financial education platform to empower citizens.

Rose intends for the London cryptocurrency, still in the finalization stage, to operate as a standard cryptocurrency with price fluctuations, potentially launching on the Polygon or Avalanche blockchains. He plans to integrate the London crypto into daily life by enabling functionalities such as staking and payment for public services.

To incentivize learning about blockchain and cryptocurrency, Rose plans to distribute the London token to approximately 10 million residents of Greater London. Large financial institutions headquartered in London would be required to contribute a one-time 1% financial education tax to subsidize the token distribution.

Rose's confidence in blockchain technology stems from his investment of over $10 million in 40 different Web3 companies. He views blockchain as a transformative tool with vast potential to address societal challenges and drive financial innovation.