Kennedy Proposes Blockchain for US Budget Transparency in Presidential Bid
Kennedy proposes blockchain for 24/7 US budget transparency, aiming for public scrutiny
Robert F. Kennedy, Jr., a U.S. presidential candidate, has proposed uploading the entire U.S. budget to a blockchain for round-the-clock public monitoring.
The Hill reported on April 22 that this initiative aims to boost transparency by making government financial activities visible to the public at all times.
Kennedy advocates for this technology as a means to enhance public scrutiny and transparency, especially highlighting past government expenditure controversies such as the Pentagon's costly bathroom renovations.
He stressed the transparency blockchain would bring, noting, “If somebody is spending $16,000 for a toilet seat, everybody’s gonna know about it.”
The idea was shared during a campaign event in Michigan, though it was reported as part of his wider efforts during a rally. Kennedy’s campaign also lists a fundraiser in Michigan, indicating his active campaign trail.
Kennedy has long supported cryptocurrency, promoting policies that favor minimal regulation on digital wallets and transactions to prevent money laundering without imposing strict controls.
In 2023, he suggested innovative ways to integrate Bitcoin into the U.S. financial system, such as backing the U.S. dollar with Bitcoin and removing Bitcoin from capital gains taxation—though the practicality of these proposals is debatable.
He began accepting Bitcoin donations for his campaign in May 2023, and his investments in Bitcoin became public the same year.
Kennedy has critiqued various government policies, including the Biden administration's proposed tax on crypto mining, and speculated that the FedNow payment system could eventually lead to Bitcoin being outlawed.
Kennedy's position on cryptocurrencies and blockchain technology underscores his broader commitment to leveraging modern technology to increase government accountability and ensure the maintenance of individual rights in the digital sphere.
His stance reflects a significant shift towards more transparent and technology-driven governance.
