The U.S. Department of Government Efficiency (DOGE) is exploring the potential of blockchain technology to improve governmental processes in finance and administration.
Elon Musk, Head of DOGE, is assessing the use of blockchain technology to enhance the efficiency of U.S. government operations. Decentralized ledger solutions under consideration include tracking federal expenditures, securing data, processing payments, and managing municipal resources, according to Bloomberg, citing informed sources.
Reports indicate that the department’s team is already in discussions with representatives of Web3 companies to evaluate their technological capabilities and proposals.
The U.S. Department of Government Efficiency (DOGE) is responsible for modernizing federal technologies and software to maximize the productivity and efficiency of the U.S. government. One of its primary goals is optimizing and reducing federal spending while combating fraud and abuse in public finance.
Changpeng Zhao, Co-Founder and ex-CEO of Binance, voiced his support for DOGE’s initiative and called for similar efforts on a global scale.
It’s worth noting that the global government debt currently exceeds $102 trillion, with the United States accounting for over 34.5% of this figure, according to the International Monetary Fund (IMF).
Cryptocurrencies played a significant role in Donald Trump’s presidential campaign. He notably advocated for the strategic use of Bitcoin and pledged to make the U.S. the “crypto capital of the planet.”
