Key Takeaways
- Elon Musk is exploring blockchain technology to enhance government efficiency within the D.O.G.E initiative.
- The initiative could become the largest government blockchain project in US history.
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Elon Musk is exploring the use of blockchain technology at the Department of Government Efficiency (D.O.G.E), Bloomberg reported Saturday, citing sources familiar with the matter.
Musk, now the sole leader of the initiative following Vivek Ramaswamy’s departure, has reportedly discussed with close allies the possibility of using blockchain’s distributed ledger technology to improve government efficiency and reduce spending.
Potential applications under consideration include tracking federal expenditures more effectively, strengthening data security measures, streamlining payment systems, and even optimizing the management of government buildings.
Sources indicate that representatives from D.O.G.E have evaluated the technical merits of several public blockchain platforms for these applications, engaging in discussions about how blockchain could be implemented across various government processes.
President Trump established D.O.G.E through an executive order on Monday, transforming the US Digital Service (USDS) into the US DOGE Service. The department targets modernizing federal technology and enhancing governmental efficiency under Tesla CEO’s leadership.
The department’s mandate includes identifying and eliminating inefficiencies in federal spending. Musk will lead a comprehensive financial and performance audit of federal operations, collaborating with the White House and Office of Management and Budget.
On Tuesday, following its official launch, D.O.G.E’s official website went live, briefly featuring the Dogecoin logo. The logo had been removed by the time of reporting.
Prior to Trump’s inauguration, Musk recruited approximately 100 volunteer programmers to develop code for his projects, according to a source. The blockchain initiative is among several technological solutions Musk’s team may employ to reduce costs and combat wasteful spending, fraud, and abuse.
If implemented, D.O.G.E’s blockchain initiative would likely be the largest government blockchain project in US history.
The latest development signals a major step in the Trump administration’s push to embrace digital assets. The President on Thursday signed an executive order creating the Presidential Working Group on Digital Asset Markets.
The group, chaired by David Sacks, the White House AI & Crypto Czar, is tasked with developing federal digital asset regulations and examining the formation of a national strategic digital assets stockpile. The executive order also prohibits federal agencies from developing central bank digital currencies.
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