Important points
- Elon Musk is researching blockchain technology to increase government efficiency within his DOGE initiative.
- The effort could become the largest government blockchain project in U.S. history.
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Elon Musk is exploring use of Blockchain technology in the Ministry of Government Efficiency (Doge), Bloomberg reported on Saturday, citing sources familiar with the matter.
Musk, who is now the initiative's sole leader following the resignation of Vivek Ramaswamy, is a close ally on the potential to use blockchain's distributed ledger technology to improve government efficiency and reduce spending. It is reported that he spoke with the people.
Potential uses being considered include more effective tracking of federal spending, strengthening data security measures, and streamlining and even optimizing payment systems. Management of government buildings.
According to sources, the following representatives doge We evaluated the technical merits of several public blockchain platforms for these. application, attractive In a discussion on how blockchain can be implemented across various processes in government.
President Trump established DOGE through an executive order on Monday, converting the United States Digital Service (USDS) into the United States DOGE Service. Under Tesla CEO's leadership, the division aims to modernize federal technology and improve government efficiency.
The department's mission includes identification and exclusion. Federal spending inefficiencies. Musk will work with the White House and the Office of Management and Budget to lead a comprehensive financial and performance audit of federal operations.
On Tuesday after the official announcement, DOGE's official website went Live, we will briefly introduce the Dogecoin logo. logo has been removed time of Report.
Before Trump took office, Musk recruited about 100 volunteer programmers to develop code for his project, according to people familiar with the matter. The blockchain initiative is one of several technology solutions that Musk's team may adopt. Reduce costs and fight wasteful spending, fraud, and fraud.
If DOGE's blockchain initiative comes to fruition, it will likely become the largest government blockchain project in U.S. history.
The latest developments mark a major step in the Trump administration's push to embrace digital assets. The President signed an executive order on Thursday creating the Presidential Task Force on Digital Asset Markets.
The group, chaired by White House AI and crypto czar David Sachs, is tasked with developing federal digital assets. Regulation and consideration Formation of a national strategic digital asset stockpile. The executive order also prohibits federal agencies from developing a central bank. digital currency.
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