United States presidential candidate Robert F. Kennedy Jr. wants to put the entire U.S. budget on the blockchain.
During a Michigan rally on April 21, he proposed the idea and said the move would allow every American to look at “every budget item anytime they want, 24 hours a day.”
“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.”
NEW: RFK Jr. says “I’m gonna put the entire US budget on blockchain”
— Radar (@RadarHits) April 22, 2024
“Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day.”
“We’re gonna have 300 million eyeballs on our budget!” pic.twitter.com/TBpkcXt5i1
Kennedy’s plan would allow for more transparency and accountability, allowing taxpayers to see where their tax dollars are spent.
The blockchain proposal was lauded by many crypto advocates on social media, where people claimed 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.”
Some, however, have criticized the plan, claiming Kennedy is advocating for a central bank digital currency (CBDC) via his blockchain plan. However, in the past, Kennedy has vowed to end U.S. efforts to move toward a CBDC, claiming it infringes on privacy.
Related: Bitcoin price hits all-time highs across Argentina, Nigeria and Turkey
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.
He is a strong advocate for Bitcoin (BTC) and blockchain and has been among the few presidential candidates who have endorsed Bitcoin and decentralized technology.
He is also the first presidential candidate to accept Bitcoin for campaign donations. Kennedy 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.
Magazine: Unstablecoins: Depegging, bank runs and other risks loom
