Independent presidential candidate Robert F. Kennedy Jr. has said he wants to put the U.S. budget on the blockchain, a ledger of transactions typically involving Bitcoin and other cryptocurrencies.
“We’re going to put the entire U.S. budget on the blockchain, and every American will have access to every line item in the entire budget, 24 hours a day,” President Kennedy said at a rally in Michigan on Sunday. .
Public accounting of spending would theoretically provide greater transparency and accountability for how governments spend taxpayer money, but it would be difficult to put all government transactions on a blockchain. It will be a lot of work.
Federal spending is also controlled by publicly available laws, and federal departments are often audited by government oversight bodies, such as the Comptroller General or its own inspector general.
“We’re going to have 300 million eyeballs in our budget, and if someone spends $16,000 on a toilet seat, everyone will know,” Kennedy said, adding that the Pentagon would spend $640 on a toilet seat. He appeared to be referring to a long history of scandals stemming from reports that he paid In the 1980s, each toilet seat $10,000 each 2018 replacement toilet seat cover.
President Kennedy has embraced digital assets, accepting Bitcoin for campaign funding and touting plans to back the US dollar with Bitcoin if elected to the White House in November.
However, Kennedy has also publicly opposed the Federal Reserve’s current plans for a central bank digital currency (CBDC).explore” and many Republicans, including former President Donald Trump.
While Republicans oppose creating a CBDC, Federal Reserve Chairman Jerome Powell has said the central bank will not create a CBDC unless Congress orders it through legislation.
2024 election coverage
The independent firebrand explained myself As the only pro-cryptocurrency candidate running for president and betting on a landslide victory in an election race dominated by a rematch between Trump and President Biden.
Stand With Crypto — a 501(c)(4) nonprofit founded by grassroots activists and cryptocurrency exchange giant Coinbase and “advocates for clear, common-sense regulation of the crypto industry” calls Kennedy It is evaluated as follows.provides strong support of cryptocurrencies. ”
Advocacy groups have rated Trump as “supporting” cryptocurrencies and President Biden as “opposed,” but Biden actually issued a statement. presidential order In 2022, it will develop a plan for “responsible development of payments innovation and digital assets” that will help the United States maintain its leadership in global financial markets.
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