According to a report from Bloomberg, Elon Musk, who leads the US Department of Government Efficiency (DOGE), is considering using blockchain technology to track federal spending, secure data, and improve the efficiency of government payments.
The report indicates that the department has reached out to public blockchain projects to evaluate their technical potential, without disclosing which networks were reviewed.
This comes after the recent launch of two meme coins named “Trump” and “Melania” on the Solana network.
The DOGE operates with remarkable secrecy, with its employees using the encrypted Signal app to communicate, according to a report from the Wall Street Journal.
Vivek Ramaswamy, who was supposed to be Musk’s partner on the project, has also withdrawn to prepare for his campaign for Ohio governor.
In May 2024, Musk denied advising former President Trump on crypto, stressing his support for shifts that return power to individuals, which cryptocurrencies could achieve.
For his part, Binance founder Changpeng Zhao (CZ) pointed out the importance of governments adopting blockchain to track public spending transparently, describing public blockchain networks as an essential tool for improving the management of public funds.
