Robert F. Kennedy Jr advocates for the utilization of blockchain technology to incorporate the 2024 US budget.
Robert F. Kennedy Jr., a candidate for the United States presidency, has put forward a proposal to utilize the power of blockchain technology by integrating the nation’s 2024 budget onto a public blockchain. Speaking at a rally in Michigan on April 21, Kennedy explained that this move would enhance transparency and enable Americans to access any budget item at any given time. He emphasized the importance of transparency by stating that if someone were to spend an exorbitant amount of money on a toilet seat, the public would be aware of it. This proposal has garnered support from some members of the cryptocurrency community, who believe it could help combat corruption. In fact, one individual on the X platform referred to it as a transformative step, stating that it was as close to a silver bullet as one could get. Others have suggested that public accounting is an ideal use case for blockchain technology, along with supply-chain implementations.
However, there are critics who claim that Kennedy’s proposal is merely a ploy to promote his own agenda regarding central bank digital currencies (CBDCs). A user named Jeremiah Harding argued that without implementing a different form of currency like a CBDC, it would be impossible for the government to track all budget transactions. Interestingly, Kennedy himself has expressed concerns about the launch of a CBDC in the U.S., despite being an advocate for decentralization. In January 2024, he referred to a CBDC as a threat to human rights and civil liberties.
Kennedy has also made headlines for endorsing Bitcoin and accepting BTC donations for his campaign. During the Bitcoin 2023 conference in Miami last year, he announced his support for the cryptocurrency and revealed that he had personally invested in Bitcoin.
Cryptocurrencies have been a highly debated topic worldwide and have faced varying degrees of regulation. On the other hand, blockchain technology has found applications in various sectors of the public domain, and regulators have shown openness in their approach.
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