U.S. presidential hopeful Robert F. Kennedy Jr. has revealed his innovative plan to utilize blockchain technology to track the entire U.S. budget. Speaking at a campaign event in Michigan, Kennedy Jr. outlined his vision of a transparent budgetary system that would allow every American to access and scrutinize budget items at any time of the day. He emphasized that such transparency would prevent wasteful spending, using the example of a $16,000 toilet seat as an illustration of the type of information that would become readily available to the public.
Kennedy Jr. has consistently championed transparency throughout his campaign. In fact, Catherine Fitts, former U.S. Assistant Secretary for Housing and Federal Housing Commissioner, has commended him for taking transparency to new heights. Kennedy Jr. sees Bitcoin as a solution to the issues caused by central banks' excessive money printing. He views the cryptocurrency as a "hard currency" and believes that making it accessible to the American public is crucial. According to Kennedy Jr., Bitcoin provides transactional freedom, a fundamental right comparable to freedom of speech. He has even gone so far as to declare that "crypto equals freedom." In his view, cryptocurrency serves as the best hedge against inflation, as it empowers individuals by removing control from the government and the monopoly of the banking system.
Additionally, Kennedy Jr. has expressed concerns about central bank digital currencies (CBDCs). He believes that these currencies pose a significant threat to privacy and personal freedom. Kennedy Jr. warns that CBDCs would enable governments to surveil individuals' financial activities, placing limits on transactions and exerting control over how and when money is used.
The proposal to put the entire U.S. budget on a blockchain has sparked discussions about the benefits and drawbacks of such a system. What are your thoughts on this proposal? Share your opinions in the comments section below.