The Department of Government Efficiency, the cost-cutting initiative led by billionaire Elon Musk, is reportedly considering using a public blockchain to provide transparency and other potential benefits for government operations and spending.
That is according to Bloombergwhich reported on Saturday that Musk’s DOGE agency is in talks with representatives of multiple existing public blockchains, according to sources close to the talks.
However, no specific chains are mentioned in the report Bloomberg reports that DOGE would like to use a blockchain – an immutable ledger – to monitor government spending, handle payments, process data and perhaps even ‘manage buildings’ under the purview of the US government.
DOGE — which appears to share its acronym with the ticker of Musk’s favorite cryptocurrency, Dogecoin — was discussed on President Donald Trump’s campaign trail and then made official after his election victory in November. Musk was set to lead the effort along with Vivek Ramaswamy, but the latter billionaire and Bitcoin fan left this week for an apparent run at Ohio’s governor.
Musk has said that DOGE aims to cut $2 trillion from the federal government through a combination of budget cuts and layoffs, although he has since backtracked and said $1 trillion is more likely.
This week, Senator Elizabeth Warren wrote in a letter to Musk that DOGE appears to be a “place for corruption” and proposed $2 trillion in cuts that would not impact essential programs or increase taxes on middle-class Americans .
Musk is an outspoken fan of Dogecoin, while Trump has launched NFTs via the Ethereum scaling network Polygon and Bitcoin, and debuted his official meme coin on Solana last week. However, there is no word yet on which chain or chains could be used in the potential DOGE blockchain initiative.
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