‘This Needs to Stop Now,’ Says Musk Criticizing US Treasury

Elon Musk, the billionaire CEO of Tesla, has confirmed plans to bring blockchain exertion to the U.S. Treasury, pursuing discussions with the Trump administration. Musk, who is present profoundly progressive successful Trump’s White House, aims to usage blockchain to way national spending, unafraid data, marque payments, and negociate buildings. 

Musk, presently starring a caller section focused connected authorities efficiency, known arsenic the Doge department, has criticized existent practices wrong the U.S. Treasury. He claims that vocation Treasury officials are approving fraudulent oregon improper payments daily. “This needs to halt now!” Musk posted connected X (formerly Twitter), referencing violations of U.S. laws governing payments.

In effect to a question astir putting the U.S. Treasury connected the blockchain, Musk agreed, saying “Yes!” Blockchain is the exertion down cryptocurrencies similar Bitcoin and Dogecoin, Musk’s favourite cryptocurrency.

Musk’s imaginativeness for a blockchain-powered Treasury could impact tracking national spending, securing data, and improving payments and management. It’s inactive unclear whether helium intends to usage existing blockchains, specified arsenic Bitcoin, Ethereum, oregon Dogecoin, oregon make a caller 1 specifically for the U.S. government.

This comes aft reports that Musk has discussed utilizing blockchain to prevention wealth and amended ratio wrong the U.S. government. Sources adjacent to Musk accidental helium has already held discussions astir these ideas with Trump’s administration.

The Doge department, a playful notation to the fashionable Dogecoin meme, is besides seen arsenic portion of Musk’s broader efforts to propulsion cryptocurrency further into mainstream use, particularly successful authorities systems. Dogecoin, which Musk has often supported, saw its worth emergence pursuing Trump’s predetermination victory. Musk has besides endorsed utilizing cryptocurrencies similar Dogecoin arsenic a outgo enactment for Tesla.

Trump has made overhauling cryptocurrency argumentation a priority, appointing a caller moving radical to absorption connected crypto regulations and perchance creating a nationalist cryptocurrency reserve.

Also Read: Trump & Ripple CEO Discuss XRP arsenic U.S. Reserve Asset