Kennedy Reveals Bold Proposal: Moving Entire U.S. Budget to Blockchain for Enhanced Government Transparency

13 views 1:28 pm 0 Comments May 14, 2024

U.S. presidential candidate Robert F. Kennedy Jr., running as an independent, presents an innovative vision for his potential administration: the integration of the entire U.S. budget onto the blockchain.

During a speech on April 21 in Michigan, Kennedy emphasized the transformative potential of blockchain technology in enhancing governmental transparency. He proposed that by migrating the budget onto a blockchain platform, every American citizen would have unrestricted access to scrutinize “every budget item at any time, 24 hours a day.”

Kennedy highlighted the accountability benefits of utilizing a publicly accessible ledger for daily transactions, suggesting that this approach would empower citizens to monitor government expenditure down to the minutest detail, with transactions recorded continuously.

With a promise of “300 million pairs of eyes” overseeing the budget, Kennedy illustrated how such transparency could deter extravagant spending, citing an example of public scrutiny preventing exorbitant costs like a $16,000 toilet seat. This initiative, championed by the 70-year-old environmental advocate and scion of the Kennedy family, received accolades from various members of the cryptocurrency community on X, who praised the plan as a potential game-changer in combating corruption.

One commentator hailed transparent public accounting as one of the most compelling applications of blockchain technology, alongside supply chain management, underscoring the urgent need for enhanced oversight in government operations to combat collusion and malfeasance among different branches.

Another supporter emphasized the profound impact of such a reform, suggesting that it aligns with the principles of the nation’s founding fathers and is instrumental in fostering a government founded on trust and accountability.

Robert F. Kennedy Jr. And Bitcoin

Kennedy’s advocacy for Bitcoin is not new, as he has previously expressed support for the cryptocurrency. In his presidential bid, Kennedy pledged to exempt Bitcoin from capital gains taxes and explore the idea of backing the U.S. dollar with BTC reserves.

Describing Bitcoin as a “currency of freedom,” Kennedy disclosed his personal investment in the digital asset, acquiring a total of 14 Bitcoins, allocating two for each of his seven children.

Moreover, Kennedy has been critical of Central Bank Digital Currencies (CBDCs), condemning them as tools of control and oppression that are susceptible to misuse and exploitation.