US presidential hopeful Robert F. Kennedy has revealed his plans to utilize blockchain technology in the management of public finances if he secures the nation’s highest political position. Kennedy made the announcement during a rally in Michigan, where he emphasized that blockchain technology would significantly enhance transparency and accountability in the allocation of US public funds. By implementing blockchain, Kennedy aims to provide every American citizen with access to the entire US budget, allowing them to scrutinize every budget item at any time, 24/7. This move is expected to increase accountability, as it would expose any extravagant spending, such as the notorious example of a $16,000 toilet seat. The advantage of using blockchain lies in its immutability, as any information recorded on the technology cannot be altered or deleted, ensuring a permanent and transparent record of all transactions.
Since declaring his candidacy in May 2023, Robert F. Kennedy has positioned himself as a crypto-friendly politician, distinguishing him from his peers. Just two months after entering the race, Kennedy pledged to back the US dollar with Bitcoin (BTC) and other finite assets if he were to assume the presidency. His plan involves securing the value of the US dollar by linking it to tangible assets like gold, silver, platinum, and Bitcoin, which he describes as the world’s most resilient liquid asset. Kennedy believes that this move will protect against currency debasement and excessive money printing, which he argues has occurred in the past. According to Kennedy, the Federal Reserve, in collaboration with major banks, printed $10 trillion between 2008 and 2022, leading to a surge in wealth accumulation over a short period. In his view, cryptocurrencies like Bitcoin offer a means of escaping the potential consequences of this financial bubble, providing the public with an alternative avenue for preserving their wealth.
It is worth noting that the opinions expressed in this article are not investment advice, and investors are advised to conduct their own research before engaging in high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. The Daily Hodl, where this report originated, does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice. As always, individuals should be aware that there are risks associated with transfers and trades, and any losses incurred are the responsibility of the individual investor.
