Kennedy Jr. wants to put America's entire financial system on the blockchain

Will there soon be a US President fully invested in Bitcoin and Crypto? Elections will be held in November this year and Robert F. Kennedy Jr. (his son-in-law) says. The US government wants to put its entire budget on the blockchain.

He wants to be as transparent as possible with the American people and provide everyone with 24-hour insight into government spending.

Complete transparency

“I'm going to put the entire American budget on the blockchain so that every American can track everything 24 hours a day. We'll have 300 million pairs of eyes watching our financial activities, and if someone spends $16,000 on a new toilet seat, everyone will know about it,” Kennedy Jr. said.

Unlike a conventional database, the information that appears in a blockchain cannot be changed. This means that every transaction is transparent and permanently recorded in the database.

Whether blockchain technology is necessary for this remains to be seen, but it's interesting to see that Kennedy Jr. is taking a completely different approach than the established order.

Now he has to beat Joe Biden and Donald Trump. It sounds like a daunting task for Kennedy Jr., but it's not impossible.

A bitcoin is backed by the US dollar

In addition to his plans to provide full transparency on government spending, Kennedy Jr. wants to support the US dollar with Bitcoin (BTC) and other assets when he takes office.

Gold, silver, platinum and bitcoin are on the list to provide the much-needed cover for the US dollar.

However, that may be more difficult because the US government is struggling with a huge debt. If that debt suddenly has to be paid off in bitcoin, gold or other hard assets, this can cause big problems.

In that sense, it appears to be mainly about populist projects, but it's a breath of fresh air anyway. What do you think? Is there a serious possibility that Kennedy Jr. will become the next President of the United States?

Trade €10,000 for free and get a €10 bonus

Are you looking to enter the world of crypto and buy Bitcoin or another crypto? Grab your chance now with this exclusive offer! Thanks to a special agreement between Newsbit and Bitvavo, one of the most accessible and user-friendly crypto exchanges in Europe, our readers get an exclusive offer.

Create an account with Bitvavo with the button below and get 10 euros absolutely free. And that's not all – you don't even pay trading fees on your first €10,000 in transactions. Register now!