- Elon Musk confirmed plans to move US Treasury to blockchain
- Musk stated Career Treasury officials are breaking the law every day on X.
Ever since Donald Trump won the US elections, major shifts have been happening across all aspects of the US economy. From supporting the crypto industry and innovation to implementing new tariffs, Trump is relentlessly making it to the headlines every day. With his radical decision to establish D.O.G.E led by Elon Musk, he is about to unleash a new paradigm in the US economy.
The aim of the Department of Government Efficiency is to increase the efficiency of the US Government by cutting unwanted costs. As part of this process, Elon Musk’s group asked for a US Treasury audit recently. The organization found that the officials at the US Treasury approve payments without checking.
Musk took it to his X platform and stated,
“Career Treasury officials are breaking the law every hour of every day by approving payments that are fraudulent or do not match the funding laws passed by Congress. This needs to stop now!”
Elon Musk Confirmed Plans to Move US Treasury to Blockchain
Yes!
— Elon Musk (@elonmusk) February 2, 2025
When X social media influencer Mario Nawfal asked Musk whether the Treasury should be put on a blockchain, Musk replied “Yes.” If this happens, all the money flow of the US Treasury funds such as federal spending, secure data, payments, etc., will be recorded on blockchain ledger.
However, whether Musk uses existing blockchains or develops a new one is unclear. If he considers using an existing one, there are thousands of options in the crypto industry. But, if he plans to create a new one, specifically tailored to the US Treasury, it might bring a new token into the market.
Nonetheless, Elon Musk also had plans to add blockchain to the X social platform when he first took over it. Whether he will sustain the idea of integrating blockchain into the US Treasury or will grow out of that thought is unclear. In case he takes forward the idea of moving the US Treasury to blockchain, it will mark a major milestone for the blockchain industry.
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