Today there were some important developments in the Department of Government Efficiency (Doge) initiative launched in the US led by Elon Musk.
According to information reported by Bloomberg, Musk has started investigating blockchain -use cases for this department.
Musk has told his inner circle about the idea of using a digital ledger as a way to lower the government costs, said one of the people who asked for not being identified because the discussions are not public. It has been discussed about the use of a blockchain to follow federal expenses, secure data, make payments and even manage buildings, the people said.
A person with knowledge of the conversations said that Doge members met representatives of various public block chains to evaluate their technologies.
However, a statement came from a well -known name in the cryptocurrency market with regard to the issue. Binance founder and former CEO Changpeng Zhao evaluated Musk’s Use of Blockchain in this initiative in his statement.
Zhao said that, according to him, all governments have to register their spending on the blockchain, an unchanging public ledger, so that government spending can really be visible to everyone.
*This is not investment advice.