RFK Jr. Proposes US Budget on Blockchain

At a rally in Michigan on April 21, presidential hopeful Robert F. Kennedy Jr. expressed his desire to make the entire U.S. budget accessible on the blockchain.

However, he said this would enable all Americans to scrutinize any budget detail around the clock at their convenience. “With 300 million people monitoring our budget, extravagant expenses, like a $16,000 toilet seat, will be immediately noticed by everyone,” he stated.

NEW: RFK Jr. says “I’m gonna put the entire US budget on blockchain”

“Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day.”

“We’re gonna have 300 million eyeballs on our budget!” pic.twitter.com/TBpkcXt5i1

— Radar (@RadarHits) April 22, 2024

Kennedy’s plan would promote transparency and accountability, allowing taxpayers to see where their tax dollars are spent. Many crypto advocates lauded the blockchain proposal on social media, claiming it would be revolutionary and end corruption.

Responses From The Blockchain Community

A user mentioned that blockchain technology could significantly benefit transparent public accounting and supply chain management. The argument was that the existing checks and balances system fails when governmental branches, particularly the presidency and Congress, collude in corruption. Therefore, citizens must be able to hold their government accountable.

However, some critics argue that Kennedy’s proposal for utilizing blockchain implies a push towards a central bank digital currency (CBDC). Despite this, Kennedy has previously committed to opposing the progression towards a CBDC in the U.S., arguing that it compromises privacy.

Charles Hoskinson, the creator of Cardano, has recently expressed his support for U.S. presidential hopeful Robert F. Kennedy Jr.’s stance on cryptocurrency, which has attracted endorsements from various key figures in the cryptocurrency community.. The Cardano creator has openly supported Kennedy’s candidacy for the forthcoming election.

Hoskinson is convinced that Kennedy is the optimal choice for voters this November, having declared his intention to vote in Kennedy’s favor. He dismisses the idea of settling for the “lesser of two evils,” viewing Kennedy as fresh air compared to the usual political options. Furthermore, Hoskinson is committed to backing a candidate he believes in, despite their chances of success.

Kennedy launched an independent campaign for the U.S. presidency following his withdrawal from the race for the Democratic nomination in October 2023. He stands out as a supporter of Bitcoin and blockchain technology, being one of the rare presidential hopefuls to support these digital innovations openly. Additionally, Kennedy is pioneering the acceptance of Bitcoin for campaign contributions and has disclosed his intention to support the U.S. dollar with Bitcoin should he win the presidency.

Disclaimer

This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.