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Elon Musk, the caput of the US Department of Government Efficiency, shared his instrumentality connected putting US Treasury transactions connected Blockchain today. In a station connected X asking that question, Musk responded with an emphatic “Yes!”
Elon Musk supports putting US Treasury transactions connected a blockchain for afloat transparency. pic.twitter.com/yQN1HbsrcG
“Career Treasury officials are breaking the instrumentality each hr of each time by approving payments that are fraudulent oregon bash not lucifer the backing laws passed by Congress,” Musk posted to X, referencing portion of the United States Code which outlines however immoderate authorities payments are approved. “This needs to halt now!”
Last week, the New York Times reported Trump’s Treasury Secretary Scott Bessent gave the DOGE section entree to the outgo strategy which sends retired $5 trillion per twelvemonth connected behalf of the full national government. Additionally past week, Musk held discussions astir utilizing blockchain exertion to prevention money, according to Bloomberg. DOGE has been precise engaged since its formation, looking for assorted ways for the US authorities to chopped costs and destruct debt.
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Unnamed sources adjacent to Musk told Forbes that there’s been speech of utilizing a blockchain for the US Treasury to way national spending, unafraid data, marque payments, and negociate buildings. However, it is unclear if Musk plans connected utilizing an existing blockchain, specified arsenic Bitcoin’s, Ethereum’s, Dogecoin’s, oregon if helium would alternatively make a new, purpose-built blockchain. The second enactment would apt beryllium an further task for Trump’s crypto task force, which is already looking to make a integer plus stockpile and Bitcoin reserve.
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