Elon Musk, the top of the US Division of Authorities Effectivity, shared his tackle placing US Treasury transactions on Blockchain at present. In a publish on X asking that query, Musk responded with an emphatic “Sure!”
🇺🇸 Elon Musk helps placing US Treasury transactions on a blockchain for full transparency. pic.twitter.com/yQN1HbsrcG
— Watcher.Guru (@WatcherGuru) February 5, 2025
“Profession Treasury officers are breaking the regulation each hour of day-after-day by approving funds which are fraudulent or don’t match the funding legal guidelines handed by Congress,” Musk posted to X, referencing a part of the US Code which outlines how some authorities funds are authorised. “This must cease now!”
Final week, the New York Instances reported Trump’s Treasury Secretary Scott Bessent gave the DOGE division entry to the fee system which sends out $5 trillion per 12 months on behalf of your entire federal authorities. Moreover final week, Musk held discussions about utilizing blockchain expertise to economize, in keeping with Bloomberg. DOGE has been very busy since its formation, searching for varied methods for the US authorities to chop prices and eradicate debt.
Unnamed sources near Musk advised Forbes that there’s been discuss of utilizing a blockchain for the US Treasury to trace federal spending, safe knowledge, make funds, and handle buildings. Nonetheless, it’s unclear if Musk plans on utilizing an current blockchain, similar to Bitcoin’s, Ethereum’s, Dogecoin’s, or if he would moderately create a brand new, purpose-built blockchain. The latter choice would possible be a further activity for Trump’s crypto activity drive, which is already trying to develop a digital asset stockpile and Bitcoin reserve.
