'Just trying to get votes': RFK Jr slammed after he proposes to 'put the entire US budget on blockchain'

LANSING, MICHIGAN: Independent presidential candidate Robert F Kennedy Jr has sparked skepticism with his bold proposal to utilize blockchain technology to overhaul the management of the US budget.

Speaking at a rally in Michigan on Sunday, April 21, Kennedy outlined his vision of placing the entire US budget onto a blockchain ledger, accessible to every American at any time of the day.

Unprecedented transparency

"I'm going to put the entire US budget on blockchain so that any American — every American can look at every budget item in the entire budget anytime they want 24 hours a day," Kennedy declared during his rally.

The potential implications of such a move are vast, promising unprecedented transparency and accountability in government spending.

“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,” Kennedy said, alluding to infamous incidents such as the exorbitant costs associated with Pentagon procurement, including reports of paying $640 for a toilet seat in the 1980s and $10,000 for replacement toilet seat covers in 2018.

Kennedy's embrace of blockchain extends beyond budgetary transparency. He has accepted campaign donations in Bitcoin and voiced plans to support the US dollar with Bitcoin should he win the presidency in November.

However, he has also expressed opposition to the concept of a central bank digital currency (CBDC), a stance shared by many Republicans, including former President Trump, The Hill reported.

Stand With Crypto, a nonprofit organization launched by grassroots advocates and the cryptocurrency exchange giant Coinbase, advocates for clear and sensible regulations within the crypto industry.

According to their assessments, they rate Robert F Kennedy Jr as being "strongly supportive of crypto." This categorization places Kennedy alongside other political figures, with Stand With Crypto labeling Trump as "supportive" of cryptocurrency and Biden as "against" it.

Despite Biden's stance, in 2022, he issued an executive order outlining plans for the responsible development of payment innovations and digital assets. This move was framed as crucial for maintaining the United States' leadership position in global financial markets.

In a 2023 interview with the New York Post, Kennedy outlined his policy proposals aimed at safeguarding individuals' rights regarding cryptocurrency. He emphasized the protection of rights related to "wallets, nodes, and passwords" while advocating for minimal controls against money laundering.

Kennedy's agenda extends beyond basic protections. In July 2023, he put forth more complex proposals, including the partial backing of the US dollar and US debt obligations with Bitcoin. Additionally, he suggested exempting Bitcoin from capital gains taxes. However, the viability of these ambitious goals remains uncertain.

Kennedy's involvement with cryptocurrency became more apparent in May 2023 when he began accepting Bitcoin donations for his campaign. Further revelations emerged regarding his personal Bitcoin investments during that summer.

Critically, Kennedy has voiced opposition to various existing policies, including the Biden administration's proposed 30% crypto mining tax. He has also raised concerns that the US government's FedNow payment system could potentially lead to a ban on Bitcoin, Cryptoslate reported.

Social media backlash follows JFK's assertion

Despite Kennedy's enthusiasm, critics have been quick to cast doubt on the feasibility and sincerity of his proposal. Social media platforms erupted with skepticism and accusations following Kennedy's announcement.

"'Put it on blockchain' is the sort of thing people say when they don’t understand blockchain," one posted on X.

"Not ever going to happen, but It was a good try. Also, he's just trying to get votes. I highly doubt he believes this," another offered.

"He definitely ain't getting elected now. Not like he really had a chance before," a comment read.

"He's a scam trying to take away from republican votes. His whole family is and endorsed Biden. How do people not see this," someone else alleged.

"Go away...The Dems don't want this guy...The Repubs don't want this guy...The Kennedy family doesn't want this guy...he needs to go away," another fumed.

 

 

 

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