CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Cryptopolitan 2025-01-26 03:55:35

Elon Musk is bringing the blockchain to his D.O.G.E department

Looks like Elon Musk is taking blockchain to Washington via his infamous Department of Government Efficiency (D.O.G.E). According to a Jan. 25 repo rt by Bloomberg, Elon wa nts blockchain to track federal spending, secure sensitive data, process payments, and even manage government buildings. The D.O.G.E, established by ‘crypto president’ Donald Trump, is tasked with making government tech leaner, meaner, and cheaper. The report says D.O.G.E has already met with representatives from public blockchain networks to evaluate what works and what doesn’t. Trump’s executive order kicks things off The Department of Government Efficiency was made official with an executive order signed by Trump on January 20. D.O.G.E has to deliver recommendations for spending cuts by July 4, 2026. Bloomberg’s report said Elon wasted no time, recruiting 100 volunteers before Trump even stepped into the Oval to start coding for D.O.G.E-related projects. In December, a person reportedly pitched Trump’s transition team in Palm Beach, Florida, on how blockchain could protect critical government data and track federal dollars. The pitch landed with Elon’s team, who believe a decentralized ledger could slash fraud, abuse, and unnecessary spending in federal programs. Using blockchain to run an operation as massive as the U.S. government is uncharted territory, though. Blockchain efforts in corporate America—like Walmart’s private blockchain for tracking supply chains—have been hit or miss. Many private blockchain experiments failed due to governance issues, high costs, or inefficiency compared to traditional databases. Public blockchains, on the other hand, offer transparency but come with their own baggage. Bitcoin and Solana, for instance, operate on decentralized networks of computers, which the Trump administration has used to launch meme coins TRUMP and MELANIA. Still, giants like BlackRock have started using public blockchains for business. BlackRock issued a money-market fund on crypto ledgers, and California’s Department of Motor Vehicles digitized millions of car titles on Avalanche. If D.O.G.E does move forward with blockchain, the scale of the project would dwarf anything attempted in the private sector. And crypto elites are already so excited about the prospects. Binance founder Changpeng ‘CZ’ Zhao pointed out : “All governments should track all their spending on the blockchain, an immutable public ledger. It’s called ‘public spending’ for a reason.” And Cardano founder Charles Hoskinson said , “Well, I’m thinking this is a job for a triumvirate of Cardano, Bitcoin, and Midnight. Yo, Doge Master Elon Musk, give us a call. We’ll do it for free.” Elon’s White House takeover Elon’s D.O.G.E department is already embedded in the White House. The team has office space in the Eisenhower Executive Office Building and plans to deploy four-person D.O.G.E teams to every federal agency. Elon’s close friendship with Trump plays a huge role in all of this. Elon poured millions into Trump’s presidential campaign and has become his closest adviser. Trump even knighted him as the nation’s ‘First Buddy.’ But Elon’s deep ties to government contracts, including those of his companies Tesla and SpaceX, are bringing questions about conflicts of interest. Critics say Elon’s recommendations for budget cuts could clash with his personal business dealings. Elon, for his part, says he’s not taking a salary for leading D.O.G.E. But this guy has had a love-hate relationship with crypto for years. Also, a union representing hundreds of thousands of federal employees has already sued the Trump administration over D.O.G.E. The lawsuit said the initiative puts workers’ jobs at risk and doesn’t address systemic issues within federal agencies. Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here

면책 조항 읽기 : 본 웹 사이트, 하이퍼 링크 사이트, 관련 응용 프로그램, 포럼, 블로그, 소셜 미디어 계정 및 기타 플랫폼 (이하 "사이트")에 제공된 모든 콘텐츠는 제 3 자 출처에서 구입 한 일반적인 정보 용입니다. 우리는 정확성과 업데이트 성을 포함하여 우리의 콘텐츠와 관련하여 어떠한 종류의 보증도하지 않습니다. 우리가 제공하는 컨텐츠의 어떤 부분도 금융 조언, 법률 자문 또는 기타 용도에 대한 귀하의 특정 신뢰를위한 다른 형태의 조언을 구성하지 않습니다. 당사 콘텐츠의 사용 또는 의존은 전적으로 귀하의 책임과 재량에 달려 있습니다. 당신은 그들에게 의존하기 전에 우리 자신의 연구를 수행하고, 검토하고, 분석하고, 검증해야합니다. 거래는 큰 손실로 이어질 수있는 매우 위험한 활동이므로 결정을 내리기 전에 재무 고문에게 문의하십시오. 본 사이트의 어떠한 콘텐츠도 모집 또는 제공을 목적으로하지 않습니다.