According to reports, the agency is considering how public blockchains could reduce government costs.
The Government Efficiency Department (Doge) of Elon Musk could use Blockchain technology, according to a January 25 Bloomberg report.
According to reports, Musk has spoken with allies about the use of blockchain to reduce government costs. The organization could specifically use technology to track federal expenditure, ensure data, make payments and administer buildings.
Until now, Doge affiliates have met with Public Blockchain representatives and have evaluated their projects, according to an expert source. (External experts, on the contrary, told Bloomberg that a private block chain that gives the government greater control of the network would be a more viable option).
Another source said that Musk took advantage of about 100 volunteers to write code for their projects before Trump’s inauguration.
Musk, the White House and Doge did not confirm the reports. Bloomberg cited anonymous sources, who said the discussions were not public.
Even if the government efficiency department adopts blockchain, it would be only one of several technologies that the organization uses to achieve its objectives.
Doge has more task of modernizing federal government technology and software to improve efficiency and productivity, according to the executive order of the president of the United States, Donald Trump, which establishes the organization.
Previous reports suggested that the organization would be responsible for reducing excessive spending and eliminating unnecessary regulations.
While some critics are worried that Dog could act outside the limits Of the last executive order, the organization also exists under other limitations.
Critically, Dege is not an executive department of the Federal Government of the United States. On the other hand, it is a temporary organization that will expire on July 4, 2026. Trump has committed to finish the program for that moment, while Musk has said that the department should be so efficient that it eliminates itself.
Doge also exists together with other cryptographic initiatives within the Trump administration, including an executive order of the entire government on cryptography and a working group of the United States Stock and Securities Commission (SEC) aimed at improving the regulation of the regulation of the regulation of the cryptography.
Until now, the government’s efficiency department has only had a loose connection with the cryptocurrency and blockchain sector.
The name of the organization refers to the meme “Dux”, which became popular in 2013 and presents a smiling dog Shiba Inu. The meme is the basis of a cryptocurrency, Dogecoin, which Musk frequently promotes.
That connection extended to the organization’s website, Dege.gov, which Briefly added The Dogecoin logo on January 21. The Dogecoin price increased by 14% at that time.
However, there are no indications that the organization plans to use Dogecoin directly.
Discharge of responsibility: The information contained in this document is provided without considering its personal circumstances, therefore, it should not be interpreted as financial advice, investment recommendation or an offer or application for any transaction in cryptocurrencies.
