RFK Jr. Proposes Transferring Entire U.S. Budget to Blockchain for Enhanced Accountability
Summary:
U.S. Presidential candidate RFK Jr. plans to shift the entire U.S budget onto a blockchain to enhance transparency and accountability, a move that has received mixed reactions from the public. Kennedy, a firm supporter of Bitcoin and blockchain, is the first presidential candidate to accept Bitcoin for campaign donations. In his terms, he plans to peg the U.S. dollar to Bitcoin, and opposes the concept of a Central Bank Digital Currency, stating infringement on user privacy.
Presidential hopeful Robert Francis Kennedy Jr., commonly known as RFK Jr., has an ambitious plan to transfer the entire budget of the United States onto a blockchain. Speaking at a campaign event in Michigan on April 21, he suggested that such a move could provide complete transparency, allowing all citizens to scrutinize "every budget item around the clock”. RFK Jr. stated, “We’re set to engage 300 million watchful eyes on our budget. It will be hard to hide extravagant and wasteful spending from such a crowd.”
The revolutionary idea has garnered massive approval from the crypto community, who view it as a means to curb corruption and provide more authentic public accounting. Social media buzzed with excitement, with users prophesizing that apart from supply chain management, public budget management might become the most practical use of blockchain technology. One user noted, “The current system of checks and balances fail when government branches conspire in corruption. The onus is on the people to hold them accountable.”
However, the plan wasn't without its detractors, with some accusing RFK Jr. of subtly promoting a central bank digital currency (CBDC) through his blockchain proposal. Still, in the past, Kennedy has vehemently expressed his opposition to CBDCs, asserting that they violate users' privacy.
RFK Jr., who is running as an independent candidate after withdrawing from the Democratic race last October, is known for his support of Bitcoin and blockchain. One of the few presidential hopefuls to back decentralized technology, he was the first to allow Bitcoin donations for his campaign. Furthermore, Kennedy suggested that, if elected, he would peg the U.S. dollar to Bitcoin.
Around the world, several politicians have voiced their opposition to centralized monetary systems, winning popular support. Argentina's pro-Bitcoin presidential candidate, Javier Milei, for instance, recently emerged victorious after a campaign against central banks.
Published At
4/22/2024 12:01:49 PM
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