• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Elon Musk explores blockchain applications in U.S. government structures

user avatar

by Giorgi Kostiuk

2 months ago


Elon Musk, as the head of the new Department of Government Efficiency (DOGE), explores the use of blockchain technology to reorganize the U.S. government operations, aiming to reduce costs and enhance transparency.

Elon Musk's Initiative and DOGE

As part of President Donald Trump's initiative to develop cryptocurrency-friendly policies, the Department of Government Efficiency (DOGE) was created. The main task of DOGE is to identify inefficiencies and reduce unnecessary government expenses. DOGE representatives met with public blockchain companies in October 2023 to explore the technology's possibilities.

Blockchain Potential and Challenges in Public Sector

The use of blockchain is considered as a method to track government spending, secure data, process payments, and manage properties. However, the lack of centralized management in public blockchains raises questions about their use in the public sector. Analyst Sam Hammond noted: 'An internal government blockchain could be used to track spending and contracts in a secure and transparent way.'

An internal government blockchain could be used to track spending and contracts in a secure and transparent way.Sam Hammond

Prospects and Criticism

Proponents believe it could help address the growing budget deficit, but critics argue about the viability of blockchain for such needs. Economist Campbell Harvey from Duke University highlighted: 'One issue with the government using a public Blockchain is that they would have no control over the entries.'

Elon Musk and his team's efforts remain in the planning stage, underlining the Trump administration's interest in modernizing government operations with new technology. However, implementing blockchain in government structures remains contentious.

0

Share

Other news

US Tariffs and Their Impact on Bitcoin and Global Markets

The US imposes new tariffs that impact Bitcoin and global markets, but positive changes may lie ahead.

user avatarGiorgi Kostiuk

a minute ago

AI Agents in Cryptocurrency: Overview of 10 Promising Projects for 2025

Explore the world of AI agents in the cryptocurrency industry and learn about 10 projects that will shape the market in 2025.

user avatarGiorgi Kostiuk

2 minutes ago

Dragoin ($DDGN) Launches Amid Decline of Major Tokens

The public sale of Dragoin ($DDGN) begins as interest in Dogecoin and Cardano wanes. Discover more about this new project.

user avatarGiorgi Kostiuk

2 minutes ago

News about Mantle: New Updates and Current Trends for MNT

MNT continues a bearish trend despite the launch of new products and strategies, including Mantle Banking and MI4.

user avatarGiorgi Kostiuk

3 minutes ago

Nexchain: A Promising Project at the Intersection of Blockchain and AI

Nexchain represents a new project in the blockchain market integrating AI for high speed and efficiency.

user avatarGiorgi Kostiuk

11 minutes ago

Crypto Fear & Greed Index Signals Recovery

Crypto Fear & Greed Index rises to 25, indicating increased investor confidence despite caution.

user avatarGiorgi Kostiuk

12 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.