The Ministry of Government (DOGE), led by Elon Musk, has had discussions on the integration of blockchain technology.
Musk, who now heads the department after Vivek Ramaswamy recently resigned as a co-leader, suggested using blockchain to reduce costs, rationalize processes and improve transparency between government functions.
Confidential discussions include proposals for the use of blockchain to follow federal expenses, securing sensitive data, management of payments and even the supervision of government buildings.
The implementation of this technology in this way could mark the most important application of blockchain in the history of the American government. Before Doge, blockchain technology was used for rudimentary government tasks such as the use by the California DMV of the avalanche blockchain for the digitization of car titles.
The main DOGE objectives consist in rationalizing government operations by removing redundant structures, reducing excessive expenditure, restructuring and eliminating the areas of waste and fraud in the federal budget, which is currently 6.5 billions dollars. Its ultimate objective is to offer more transparency from the government and to support entrepreneurship.
DOGE led by Musk obtains the support of the CEO of Coinbase, Gemini Founder
The new Donald Trump Government Ministry of Effectiveness (DOGE), led by Elon Musk and Vivek Ramaswamy, obtained the support of Brian Armstrong and Cameron Winklevoss
The members of the cryptography industry praised the department, which was created before the inauguration of President Donald Trump on January 20. The CEO of Coinbase, Brian Armstrong, described Doge as a “unique opportunity” to increase “economic freedom”.
“The founding fathers were geniuses but (with humility) may have missed the unfavorable incentives that increase the size of the democratic government over time (gaining elections by promising more free things),” he added .
. @DOGE is a unique opportunity to increase economic freedom in the United States and reduce the size of the government in health.
The founding fathers were geniuses but (with humility) may have missed the unfavorable incentives that increase the size of the democratic government …
– Brian Armstrong (@brian_armstrong) November 17, 2024
A team of 100 volunteers has already started working on various projects, highlighting the wider position of the Trump administration.
Trump signed an order at the oval office on Thursday, which aims to advance cryptocurrency in the United States while exploring the development of a stock of digital assets.
“The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as in the international direction of our country,” said the decree.
The decree deals with the creation of technological and regulatory frameworks for the development of cryptocurrencies in the United States and the creation of a working group to assess the feasibility of a stock of national digital assets.
