TL;DR
- Robert Francis Kennedy Jr. (RFK Jr.), a U.S. presidential candidate and Bitcoin advocate, has proposed to put the entire U.S. budget on a blockchain, allowing every American to scrutinize every budget item anytime they want.
- The proposal was met with both enthusiasm and criticism. While many crypto advocates hailed it as a revolutionary step towards ending corruption, critics claimed that RFK Jr. is promoting a central bank digital currency (CBDC) using his blockchain strategy.
- RFK Jr., who is running as an independent candidate in the upcoming U.S. presidential election, stands out from other candidates due to his support for Bitcoin and decentralized technology.
American presidential candidate Robert Francis Kennedy Jr., also known as RFK Jr., has announced his intention to put the entire United States budget on a blockchain. The announcement was made during a rally in Michigan on April 21.
RFK Jr., an ardent advocate of Bitcoin and decentralized technology, believes that this move would allow every American to scrutinize “every budget item anytime they want, 24 hours a day”. He stated, “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”.
The proposal was met with enthusiasm by many crypto advocates on social media, who hailed it as a revolutionary step towards ending corruption. One user noted that transparent public accounting might be the best use case for blockchain technology, apart from supply chain management.
On the other hand, there has been some backlash against the plan. Critics claim that RFK Jr. is promoting a central bank digital currency (CBDC) using his blockchain strategy. Previously, Kennedy had promised to put a stop to the American government’s push towards a CBDC, alleging that it violates the privacy of users.
Potential Impact of RFK Jr.’s Proposal on US Presidential Election
Robert F. Kennedy Jr. is currently running as an independent candidate in the upcoming U.S. presidential election. He decided to withdraw his bid from the Democratic party in October of last year.
He stands out from other presidential candidates because he supports Bitcoin and decentralized technology, making him one of the few to do so. Additionally, he is the first presidential candidate to welcome Bitcoin as a form of donation for his campaign. At the time of writing, BTC is trading at around $66,000.
The United States presidential candidate made headlines by sharing his proposal to support the U.S. dollar with Bitcoin if he wins the election. In recent years, numerous politicians have spoken out against centralized government systems, particularly in finance, and have garnered significant public support.
This proposal by RFK Jr. signifies a major shift in the political landscape, highlighting the increasing importance of blockchain technology in governance. It remains to be seen how the broader public will receive this proposal and whether it will influence the outcome of the upcoming U.S. presidential election.
