Robert F. Kennedy Jr. Proposes Putting U.S. Budget on Blockchain if Elected President

Robert F. Kennedy Jr. proposes putting the entire U.S. federal budget on blockchain to increase transparency and accountability in government spending if elected in 2024.

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Shivani Chauhan
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Robert F. Kennedy Jr. Proposes Putting U.S. Budget on Blockchain if Elected President

Robert F. Kennedy Jr. Proposes Putting U.S. Budget on Blockchain if Elected President

Robert F. Kennedy Jr., an independent candidate for U.S. President, has proposed putting the entire U.S. federal budget on blockchain technology if elected in 2024. Kennedy believes this would increase government transparency, allowing all Americans to view every budget item 24/7.

Kennedy referenced past issues with government spending, such as the Pentagon paying $16,000 for a toilet seat. "With the budget on blockchain, everybody's gonna know about it," he stated. Having "300 million eyeballs" on the budget would hold those in power more accountable, according to Kennedy.

The presidential candidate has previously advocated for using cryptocurrency technology. He has proposed backing the U.S. dollar with Bitcoin reserves and accepted campaign donations in Bitcoin. However, Kennedy has also expressed concerns about the potential for financial surveillance with central bank digital currencies (CBDCs).

Kennedy's proposal to put the federal budget on the blockchain is part of his ongoing campaign to promote crypto as a means to improve the U.S. economy. He believes it would empower citizens to better oversee government spending, but has acknowledged the transparency could also be "weaponized" against the public.

Why this matters: Kennedy's proposal represents a significant potential use case for blockchain technology in government. If implemented, it could set a new standard for transparency and accountability in public spending.

The idea has been praised by many crypto advocates as revolutionary, but some have criticized it as advocating for a CBDC. Kennedy has qualified for the presidential ballot in several states, including Michigan, Hawaii, Utah, and North Carolina. The advocacy group Stand With Crypto rates Kennedy as "strongly supportive" of crypto, in contrast to former President Trump who is rated as "supportive" and President Biden who is rated as "against" it.

Key Takeaways

  • RFK Jr. proposes putting U.S. budget on blockchain for transparency.
  • Believes it would hold government accountable and empower citizens.
  • Previously advocated for crypto, including backing USD with Bitcoin.
  • Proposal seen as significant blockchain use case in government.
  • Qualified for presidential ballot in several states, rated "strongly supportive" of crypto.