NEW YORK, July 30 (Xinhua) -- Andrew Yang, a second-generation Chinese American running for U.S. presidency as a Democrat in 2020, has announced his acceptance of cryptocurrency and Venmo as forms of donation, according to Yang's campaign.

The campaign can accept Bitcoin, Ethereum, and anything on the ERC20 standard within a maximum of 2,500 U.S. dollars. Venmo payments of up to 2,700 dollars are also acceptable.

The campaign has also used other tech innovations including Twitch and Instagram TV to live broadcast campaign events.

Donors will receive a form that will allow the campaign to verify their voter qualifications, after which the campaign will send a cryptocurrency wallet address to allow them to make donations.

Yang, 43, is a successful entrepreneur who founded an organization called Venture for America, an entrepreneurial fellowship.

He authored a book called The War on Normal People which argues in favor of a universal basic income of 1,000 U.S. dollars a month for all U.S. citizens between the ages of 18 to 64. He also opposes artificial intelligence and automation technology.

Yang, whose organization is based in New York City, favors a new type of capitalist economy called "human capitalism" that is geared to maximize human well-being.