US presidential hopeful Robert F. Kennedy has pledged to integrate blockchain technology into the management of public finances if he secures the nation’s highest political position, as reported by The Hill.
Kennedy articulated during a rally in Michigan his intention to leverage blockchain technology to bolster transparency and accountability in the realm of US public expenditure.
“I plan to migrate the entire US budget onto the blockchain, enabling every American citizen unrestricted access to scrutinize every budgetary allocation round the clock…
This move will subject the US budget to scrutiny by 300 million pairs of eyes, ensuring that any extravagant spending, such as $16,000 on a toilet seat, does not go unnoticed.”
In contrast to conventional databases, data stored on a blockchain is immutable and tamper-proof, creating a permanent and transparent ledger of all transactions.
Since declaring his candidacy in May 2023, the nephew of the 35th US president John F. Kennedy has positioned himself as a politician with a favorable stance towards cryptocurrency. Just two months into his campaign, Kennedy made a commitment to endorse the US dollar with Bitcoin (BTC) and other tangible assets if elected to the presidency.
“The Kennedy administration aims to solidify the US dollar with tangible finite resources like gold, silver, platinum, and Bitcoin, recognized as the most robust liquid asset globally, to fortify the US dollar’s stability and ensure its longevity as a global reserve currency.”
Kennedy views Bitcoin as a remedy to currency devaluation and excessive money printing.
“From 2008 to 2022, the Federal Reserve collaborated with a select group of major banks to print $10 trillion — equivalent to ten centuries of wealth generated in just 15 years — a windfall for the banking elite.
Cryptocurrencies such as Bitcoin offer the public an avenue of escape when this financial bubble inevitably bursts. The White House, in collusion with financial elites, seeks to confine us within the bubble of profit-making and control.”
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