Elon Musk would plan to use blockchain technology at Government Ministry of Efficiency (DOGE).
Musk, head of the newly created agency, launched the idea of using a large digital book to reduce public spending, Bloomberg News reported Saturday, January 25, citing sources close to the file.
Discussions involved the use of A blockchain to monitor federal expenses, make payments, secure data and manage government buildings, sources said. One source told Bloomberg that Doge’s related people had met representatives of public blockchains to assess their technology.
Created last week in the middle of President Trump’s wave of decrees, Doge’s goal is Update software and federal technology to improve efficiency and productivity within the federal government. The group should make its discount recommendations by July 4, 2026.
The group’s efforts are involved while Trump has established policies favorable to cryptocurrencies. Thursday, January 23, he published a decree creating the presidential working group on the digital asset markets. This group will explore the creation of a “national stock of digital assets ”, Perhaps made from crypto seized by the police.
“Basically, the order signals a change in the approach of the federal government in blockchain technology, stable parts. And the broader ecosystem of digital assets, emphasizing innovation and regulatory clarity And Competitive positioning, ”Pymnts wrote last week.
“For the payment sector, this policy represents both a An opportunity and a challengereshaping the way financial technology is about to evolve in the United States “
In other news on blockchain, Pymnts wrote last week on the importance of confidentiality in scaling technology throughout the financial services sector.
The research carried out by Pymnts Intelligence has revealed that blockchain technology offers a number of potential advantages address the unique needs of regulated industries, Funding included.
“As more and more banks are incorporating blockchain capabilities, customers will have A greater choice in value transfer, ” FV Bank CEO Miles Paschini told Pymnts this month. “We are paving the way for a future where blockchain will only be a other means of payment.”
But Without robust confidentiality mechanisms, the adoption of blockchain in financial services could be limited to cases of niche use where strict data protection is not necessary.
“In the end, the relationship between Blockchain and traditional finance illustrates the broader tension between innovation and regulations, ”wrote Pymnts.
“By accepting this paradox and investing in technologies respectful of privacy, collaborative executives And Thanks to the clarity of the regulations, the financial sector can transform the transparency of the blockchain of a challenge into a competitive advantage.
