2024

United

Read

United States presidential candidate Robert F. Kennedy Jr. has proposed to put the nation’s 2024 budget on a public blockchain. 
During his April 21 rally in Michigan, Kennedy said that putting the U.S. budget on the blockchain would allow Americans to access any budget item at any time. 
According to Kennedy, integrating the budget with blockchain technology will significantly increase transparency. He exemplified this by stating, “If somebody is spending $16,000 for a toilet seat, everybody’s going to know about it.” 
If the proposal comes to fruition, American taxpayers will be able to track where funds are being spent. The idea was well-received by some corners of the cryptocurrency community, with some claiming it would end corruption. 
“Putting the entire US budget on blockchain would be transformative. I don’t believe in silver bullets, but this is as close as one gets to one,” <a href="https://x.com/AlanMyron/status/1782258730484334976" target="_blank" rel="">wrote</a> one X user. 
Another user <a href="https://x.com/pjmoma/status/1782250936900972736" target="_blank" rel="">pointed out</a> that “public accounting might be the best use case for blockchain tech,” in addition to supply-chain implementations.&nbsp; 
 You might also like: <a href="https://crypto.news/presidential-candidate-kennedy-warns-against-cbdcs-labels-them-a-threat-to-civil-liberties/" rel=""> Presidential candidate Kennedy warns against CBDCs, labels them a threat to civil liberties </a> 
However, some critics of the notion claim that Kennedy is using this proposal to promote his <a href="https://crypto.news/?s=CBDC" rel="">central bank digital currency</a> (CBDC) agenda. According to X <a href="https://x.com/InsanityIsFree/status/1782277226421248110" target="_blank" rel="">user</a> Jeremiah Harding, it isn’t possible for a government to track all budget transactions without implementing a “different unit of currency” like a CBDC. 
Interestingly, Kennedy, who is a prominent advocate for decentralization, has previously expressed concerns regarding the launch of a CBDC in the U.S. Back in Jan. 2024, he described a CBDC as “a calamity for human rights and for civil rights.” 
Kennedy is also one of the few presidential candidates who has publicly endorsed Bitcoin. Last year, during the Bitcoin 2023 conference in Miami, he <a href="https://crypto.news/presidential-candidate-robert-f-kennedy-jr-praises-bitcoin/" rel="">announced</a> that his campaign would accept Bitcoin (BTC) donations. The presidential hopeful also <a href="https://crypto.news/robert-kennedy-jr-admits-to-purchasing-bitcoin/" rel="">revealed</a> that he purchased Bitcoin during the same year. 
Despite being endorsed by some regulators, cryptocurrencies have remained a <a href="https://crypto.news/donald-trump-turns-attention-to-cryptocurrency-whats-behind-the-shift/" rel="">highly debated topic</a> globally. Blockchain technology, on the other hand, has seen implementations across several avenues in the <a href="https://crypto.news/india-telangana-to-sign-mous-for-implementing-blockchain-technology-in-public-sectors/" rel="">public sector</a>, and regulators have been <a href="https://crypto.news/seoul-mayor-bullish-blockchain-smart-city-initiatives/" rel="">open-minded</a> in their approach.&nbsp; 
 Read more: <a href="https://crypto.news/kennedy-jr-to-back-dollar-with-bitcoin-if-elected/" rel=""> Kennedy Jr. to back dollar with bitcoin, if elected </a>

Robert F. Kennedy Jr proposes putting the 2024 US budget on blockchain

crypto.news

Andere artikelen gepubliceerd op 22 apr 2024

Cardano Foundation Debut PRAGMA to Drive Open-Source Project Development

Unlock Crypto Trading Insights with Crypto Whale Pump Community

Expert Insights: Milei Moneda Presale Could Be the Better Purchase While PEPE and NEAR Suffer Con...

As BTC faces hard times, Pepe and new AI altcoin eye growth

Coin Center says Senate-presented stablecoin bill poses risks to innovation and free speech

Cronos Launches Spring Odyssey, a Gamified Exploration of Web3 Themes with Galxe Integration

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!