The Department of Government Efficiency (DOGE) is exploring the use of blockchain technology. Led by Elon Musk, the department aims to make government more efficient.
Since Vivek Ramaswamy stepped down, Musk has focused on how blockchain can cut costs and improve transparency in government operations.
Some ideas on the table include using blockchain for tracking federal spending, protecting sensitive information, managing payments, and overseeing government buildings.
If fully implemented, this could be the biggest use of blockchain in the U.S. government to date. Before DOGE, blockchain’s government use was limited, like the California DMV’s adoption for digitizing car titles.
DOGE aims to simplify government functions by removing unnecessary layers, reducing spending, and addressing waste in a $6.5 trillion federal budget. The goal is to enhance transparency and foster entrepreneurship.
Musk-Led DOGE Gets Support From Coinbase CEO, Gemini Founder
Brian Armstrong and Cameron Winklevoss have backed the newly formed DOGE, initiated before President Donald Trump’s inauguration on January 20.
Brian Armstrong, CEO of Coinbase, views DOGE as a rare chance to boost economic freedom. He noted that while the founding fathers were brilliant, they may not have fully recognized how democratic incentives could lead to government overreach.
. @DOGE is a once in a lifetime opportunity to increase economic freedom in the U.S. and cut the size of government back to health.
The founding fathers were geniuses but (with humility) may have missed the adverse incentives which grow the size of democratic government over…— Brian Armstrong (@brian_armstrong) November 17, 2024
A team of 100 volunteers is already working on various initiatives, echoing the Trump administration’s support for cryptocurrencies.
Recently, Trump signed an executive order aimed at boosting cryptocurrency in the U.S. and exploring the creation of a digital asset reserve.
This order highlights the importance of the digital asset industry for innovation and economic progress, as well as enhancing U.S. leadership in the global market.
The executive order also outlines plans to develop technology and regulations for cryptocurrency, along with forming a working group to look into a national digital asset stockpile.
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ED also reached the second house of millionaire former constable Saurabh Sharma, raided his brother-in-law’s house too
