Elon Musk is investigating use of Blockchain technology at the Department of Government Efficiency (Doge), Bloomberg reported Saturday based on sources that are familiar with the business.
Musk, now the only leader of the initiative after the departure of Vivek Ramaswamy, reportedly discussed the possibility of using Blockchain’s distributed ledger technology to improve the government’s efficiency and reduce expenditure.
Possible applications that are considered include the effective following federal expenditures, strengthening data security measures, streamlining payment systems and even optimizing the management of government buildings. Sources indicate that representatives of Doge have evaluated the technical benefits of various public blockchain platforms for these applications, having discussed discussions about how blockchain can be implemented in various government processes.
The discussions are in line with President Donald Trump’s crypto -friendly policy. Trump recently signed an executive order to set up a working group for digital assets, consisting of important government officials.
DOGE, founded by the executive command of Trump of January 20, has the task of modernizing federal technology and software to improve the efficiency and productivity of the government.
Before Trump’s inauguration, Musk collected around 100 volunteers to write code for his projects, said a person who was familiar with the issue. The blockchain initiative would be one of the technological tools that the Musk team could use to lower the costs and eliminate wasting expenses, fraud and abuse.
Some major institutions have already introduced public block chains. BlackRock has issued a money market fund on several crypto-grandbooks. If implemented, the Blockchain initiative of Doge would probably be the largest blockchain project of the government in American history.
