US presidential candidate Robert F. Kennedy Jr. announced his plans to use blockchain technology to improve transparency in the US government’s budget and allow every American to access real-time information on government financial expenditure.
Kennedy, the first US presidential candidate to accept campaign donations in Bitcoin, has consistently expressed support for cryptocurrencies. At a campaign rally in Michigan on April 21, Kennedy proposed increasing tax transparency and accountability through blockchain technology. He stated, “I will put the entire US budget on the blockchain. Every American will be able to view every budget item at any time, 24/7.”
This proposal has garnered praise from many cryptocurrency supporters who believe it will be revolutionary and help eradicate corruption. One internet user responded, “Transparent public accounting may be the best use case for blockchain technology, apart from supply chains. If government departments, especially the president and Congress, are involved in corruption together, checks and balances cannot work. It is time for the people to hold them accountable.”
However, some critics have voiced concerns about Kennedy’s plan, claiming that he is advocating for a Central Bank Digital Currency (CBDC) through his blockchain initiative. In reality, Kennedy staunchly opposes the development of a US CBDC, viewing it as an invasion of privacy and an excessive concentration of government power.
In a previous interview with Bitcoin Magazine, when asked if he believed the US government should issue a digital currency directly to citizens, Kennedy commented, stressing the need for a free currency, one that is independent and not controlled by the government. This is possibly why he supports cryptocurrencies. In March of this year, he stated that cryptocurrencies are the “best hedge against inflation” and emphasized how they strip away control from the government and monopolistic banking systems.
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