US presidential candidate Robert F. Kennedy, Jr. proposed utilizing blockchain technology to make the entire US budget transparent and accessible to the public at all times, as reported by The Hill on April 22.
Kennedy emphasized that putting budget data on a blockchain would allow for 24/7 access, enabling Americans to scrutinize government spending in real-time. By moving budget information onto a blockchain platform, the public could have greater insight into government expenditures beyond what is currently outlined in budget plans and reports.
During a rally in Michigan, Kennedy highlighted the importance of public oversight by referencing past controversies such as the exorbitant costs of Pentagon upgrades to military washrooms, stating, “If somebody is spending $16,000 for a toilet seat, everybody’s gonna know about it.”
The event in Michigan where Kennedy made his remarks was described on his website as “A Night of Laughter with Robert F. Kennedy, Jr. and Friends,” which was a campaign fundraising event.
Apart from his budget transparency initiative, Kennedy has also shown support for cryptocurrencies, advocating for policies that protect individual rights to control wallets, nodes, and passwords while implementing minimal restrictions on money laundering. He has proposed innovative ideas like backing the US dollar and national debt with Bitcoin and exempting Bitcoin from capital gains taxes, although the feasibility of these proposals remains uncertain.
Kennedy began accepting Bitcoin donations for his campaign in May 2023 and has been open about his own investments in the cryptocurrency. He has criticized existing policies such as the Biden administration’s proposed 30% tax on crypto mining and raised concerns that the government’s FedNow payment system could potentially lead to a ban on Bitcoin.
