Independent candidate Robert F. Kennedy Jr., running for U.S. President, emphasized the potential of blockchain technology in enhancing government transparency. He proposed a transformation to a Web3 approach for the federal budget, intending to leverage blockchain for increased visibility.
At a rally in Michigan, Kennedy outlined his vision to place the entire U.S. budget on the blockchain, enabling every American to access and scrutinize budget details round the clock. By facilitating daily transactions on a transparent ledger, he aimed to enhance accountability among government officials. This move would allow the public to monitor thousands of transactions daily, ensuring transparency in government spending.
Kennedy highlighted the significance of this initiative, stating that with 300 million “eyeballs” on the budget, any extravagant expenses, such as the infamous $16,000 toilet seat incident at the Pentagon in 2018, would not go unnoticed.
His advocacy for cryptocurrency technology as a means to bolster the nation’s economy has been a consistent theme in his campaign. Kennedy previously proposed backing the U.S. dollar with Bitcoin reserves, showcasing his support for digital assets. His active involvement in prominent crypto events, including Bitcoin 2023 in Miami and ETHDenver, underscores his commitment to blockchain innovation.
While acknowledging the potential of blockchain to empower citizens through government oversight, Kennedy also raised concerns about the risks associated with Central Bank Digital Currencies (CBDCs). He cautioned against the intrusive nature of CBDCs, warning against the encroachment of financial surveillance in the U.S.
Kennedy’s stance on utilizing blockchain for governmental transparency reflects his progressive approach to governance and economic reform. By embracing blockchain technology, he aims to revolutionize the traditional mechanisms of budget management, fostering a more open and accountable system.
Edited by Ryan Ozawa.