[ROBERT F. KENNEDY JR.]
“We will attract the attention of 300 million individuals regarding our budget, and if there’s a $16,000 expenditure on a toilet seat, it will not go unnoticed.”
[LAUREN TAYLOR]
Presidential candidate Robert F. Kennedy Jr. is shedding light on the government’s toilet seat expenses. In Michigan, during a recent campaign event, RFK Jr. suggested the utilization of blockchain technology for budget management.
[ROBERT F. KENNEDY JR.]
“My plan involves placing the entire US budget on the blockchain, enabling every American to access and scrutinize every budget item round the clock.”
[LAUREN TAYLOR]
Blockchain technology serves as an immutable ledger essential for cryptocurrencies and secure digital transactions. It operates by linking data in blocks through cryptography, ensuring transparency, tamper resistance, and permanence.
Decentralized blockchains are maintained by multiple participants across various locations, preventing control by any single entity and ensuring transparency and resilience against interference.
Now, let’s hear from one of the co-inventors for further clarification.
[STUART HABER]
“If I commit to sending you 17 Bitcoin, that commitment cannot be altered to 1,700 Bitcoin or 17 Bitcoin cents.”
[LAUREN TAYLOR]
Kennedy highlighted past instances of excessive spending, such as the costly toilet seats, to demonstrate how blockchain technology could enhance government spending transparency.
Yet, the challenge lies in the complexity of recording every government transaction on the blockchain, given the massive federal budget of around 3.8 trillion dollars.
While blockchain technology can boost transparency, the Government Accountability Office has expressed concerns about associated risks like volatility and fraud.
Kennedy remains a staunch advocate for cryptocurrency technology, envisioning it as a tool to strengthen the US economy. He previously outlined Bitcoin-focused policies, including supporting the dollar with Bitcoin reserves and exempting Bitcoin profits from capital gains taxes.
[ROBERT F. KENNEDY JR.]
“My administration aims to position America as the global center for cryptocurrencies, particularly Bitcoin, incentivizing investments in green energy and attracting innovation to our nation. I will establish a reasonable governance framework asserting that Bitcoin is not a security and should not be regulated as one.”
[LAUREN TAYLOR]
Kennedy’s campaign is gaining momentum, securing a spot on Michigan’s ballot, following Utah. His team asserts they have garnered sufficient signatures in states like Arizona, Georgia, Nevada, and North Carolina, pending official validation.