US Presidential Candidate Proposes Putting Entire Budget on Blockchain
United States presidential candidate Robert F. Kennedy Jr. proposed putting the entire U.S. budget on the blockchain during a rally in Michigan on April 21.
He suggested this move would allow every American to access every budget item at any time, 24 hours a day.
Kennedy’s plan aims to increase transparency and accountability, enabling taxpayers to see where their tax dollars are spent. The blockchain proposal received praise from many crypto advocates on social media, with some claiming it would be revolutionary and end corruption.
One user wrote 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.”
However, some have criticized the plan, claiming Kennedy is advocating for a central bank digital currency (CBDC) through his blockchain plan. Kennedy has previously vowed to end U.S. efforts to move toward a CBDC, claiming it infringes on privacy.
Kennedy is running as an independent candidate in the upcoming U.S. presidential election after ending his bid to be the Democratic Party nominee in October 2023.
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He is a strong advocate for Bitcoin and blockchain and has been among the few presidential candidates who have endorsed Bitcoin and decentralized technology. Kennedy is also the first presidential candidate to accept Bitcoin for campaign donations. He 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 won the Argentine presidential election on the back of a campaign promising to slash the size of government.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
