2024

United

Radar

Bitcoin

April

United States presidential candidate Robert F. Kennedy Jr. wants to put the entire U.S. budget on the blockchain.&nbsp;
During a Michigan rally on April 21, he proposed the idea and said the move would allow every American to look at “every budget item anytime they want, 24 hours a day.”
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 “We’re gonna have 300 million eyeballs on our budget, and if somebody is spending $16,000 for a toilet seat, everybody’s gonna know about it.”
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 NEW: RFK Jr. says “I’m gonna put the entire US budget on blockchain” “Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day.” “We’re gonna have 300 million eyeballs on our budget!” <a href="https://t.co/TBpkcXt5i1" rel="noopener noreferrer nofollow">pic.twitter.com/TBpkcXt5i1</a>— Radar (@RadarHits) <a href="https://twitter.com/RadarHits/status/1782298931092734241?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 22, 2024</a>
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Kennedy’s plan would allow for more transparency and accountability, allowing taxpayers to see where their tax dollars are spent.
The blockchain proposal was <a href="https://x.com/AlanMyron/status/1782258730484334976" target="_blank" rel="noopener noreferrer nofollow">lauded</a>&nbsp;by many crypto advocates on social media, where people claimed it would be revolutionary and end corruption.
One user <a href="https://x.com/pjmoma/status/1782250936900972736" target="_blank" rel="noopener noreferrer nofollow">wrote</a>&nbsp;that transparent public accounting might be the best use case for blockchain tech besides the supply chain: “checks and balances in our government doesn’t work if the branches are in on the corruption together (president and congress particularly) it’s time the people hold them accountable.”
Some, however, have criticized the plan, <a href="https://x.com/InsanityIsFree/status/1782277226421248110" target="_blank" rel="noopener noreferrer nofollow">claiming</a>&nbsp;Kennedy is advocating for a central bank digital currency (CBDC) via his blockchain plan. However, in the past,&nbsp;<a href="https://cointelegraph.com/news/robert-f-kennedy-jr-end-cbdc" rel="noopener noreferrer nofollow">Kennedy has vowed to end U.S. efforts</a>&nbsp;to move toward a CBDC, claiming it infringes on privacy.
Related: <a href="https://cointelegraph.com/news/bitcoin-price-all-time-highs-across-argentina-nigeria-turkey" rel="noopener noreferrer nofollow">Bitcoin price hits all-time highs across Argentina, Nigeria and Turkey</a>
Kennedy is running as an independent candidate in the upcoming U.S. presidential election after ending his bid to be the&nbsp;Democratic Party nominee in October 2023.
He is a strong advocate for Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>)&nbsp;and blockchain and has been among the few presidential candidates who have endorsed Bitcoin and decentralized technology.
He is also the first presidential candidate to accept Bitcoin&nbsp;for campaign donations. Kennedy also revealed his plans to back the U.S. dollar with Bitcoin if elected president.
In recent years, more politicians have advocated against centralized government systems — particularly financial ones — as decentralized financial alternatives have grown in popularity.
In December 2023, Bitcoin-friendly candidate Javier Milei&nbsp;<a href="https://cointelegraph.com/news/javier-milei-wins-argentina-presidential-election" rel="noopener noreferrer nofollow">won the Argentine presidential election</a> on the back of a campaign promising to slash the size of government.&nbsp;
Magazine: <a href="https://cointelegraph.com/magazine/unstable-coins-de-pegging-bank-runs-other-risks-2023/" rel="noopener noreferrer nofollow">Unstablecoins: Depegging, bank runs and other risks loom</a>

RFK Jr. wants to put the entire US budget on a blockchain

Cointelegraph

Other articles published on Apr 22, 2024

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