There were some major developments today in the Department of Government Efficiency (DOGE) initiative launched in the US under the leadership of Elon Musk.
According to information reported by Bloomberg, Musk has started exploring blockchain use cases for this department.
Musk has told his inner circle about the idea of using a digital ledger as a way to reduce government costs, said one of the people, who asked not to be identified because the discussions are not public. There has been talk of using a blockchain to track federal spending, secure data, make payments and even manage buildings, the people said.
A person with knowledge of the talks said Doge members met with representatives from several public blockchains to evaluate their technologies.
However, a statement came from a well-known name in the cryptocurrency market regarding the matter. Binance founder and former CEO Changpeng Zhao evaluated Musk’s use of blockchain in this initiative in his statement.
Zhao said that in his view, all governments should record their expenditures on the blockchain, an immutable public ledger, so that government expenditures can be truly visible to all.
*This is not investment advice.
