US presidential candidate Robert F. Kennedy, Jr. has expressed his intention to leverage blockchain technology to bring transparency to the US budget, as reported by The Hill on April 22.
According to Kennedy, utilizing blockchain would enable the entire US budget to be accessible round the clock, allowing Americans to scrutinize it at any time. This move towards blockchain integration aims to enhance public oversight by providing visibility into government expenditures beyond conventional budgetary documents and plans. Kennedy highlighted the importance of accountability by referencing past controversies such as exorbitant Pentagon expenses on military restroom upgrades, exemplifying with the statement:
“If somebody is spending $16,000 for a toilet seat, everybody’s gonna know about it.”
The Hill’s report indicated that Kennedy made these remarks during a rally in Michigan, specifically during his “A Night of Laughter with Robert F. Kennedy, Jr. and Friends” campaign fundraising event on April 21.
Kennedy’s Advocacy for Cryptocurrency
Kennedy has been an advocate for cryptocurrency, showcasing a supportive stance towards the digital asset realm through his campaign platform, which features crypto-friendly policies.
In a 2023 interview with The New York Post, Kennedy outlined his policy framework aimed at safeguarding individuals’ rights to “wallets, nodes, and passwords” while imposing minimal restrictions on anti-money laundering measures.
Moreover, Kennedy has proposed more intricate initiatives, such as suggesting the partial backing of the US dollar and national debt obligations with Bitcoin, along with advocating for Bitcoin exemption from capital gains taxes. The feasibility of these proposals remains uncertain.
Kennedy initiated the acceptance of Bitcoin donations for his campaign in May 2023, shedding light on his personal Bitcoin investments during that period.
Notably, Kennedy has criticized several prevailing policies, including the Biden administration’s proposed 30% tax on crypto mining. Additionally, he has raised concerns that the US government’s FedNow payment system could potentially pave the way for a Bitcoin ban.