Elon Musk, who leads the government efficiency management of President Donald Trump, has called on the US Treasury to approve fraudulent payments and suggested Blockchain as a solution.
His remarks came in response to fears about the incompetence and mismanagement in the Scott Beesen section.
Can Blockchain Treasury solve?
The controversy started when Musk moved to X on February 2, male Vocational officials at the US Treasury were “breaking the law every hour of the day” by approving unauthorized and illegal payments. Earlier, without providing evidence, he claimed that these officers were always under instructions to agree to payments, even “well -known fraudulent and terrorist groups.”
His note was quickly captured by the encrypted commentator Mario Noval, who then to request , “Should the cabinet be placed on Blockchain so that this does not happen?” Musk’s response was “Yes!” Discussions about whether the distributed professor’s book technology can help simplify the practices of the federal government.
Defenders have argued that moving treasury transactions on the chain will create a non -change record in the actual time for each dollar spent. They suggested that this level of transparency can help get rid of the rear room deals, their designated money, and hidden leaflets.
Contribution to conversation, nawfal detailed How the Treasury has carried out transactions with a trillion value per day, but its systems remain transparent and ineffective, allowing fraud and mismanagement. He claimed that the chain transactions could guarantee a fraud -resistant system, which effectively stops book deals and lost money.
Bodcast Lindsi Boss host High The transparent network in Ukraine as a real example of Blockchain in government financing. She noted that the system tracks reconstruction funds, which helps to combat 40 % of the aid lost on corruption.
Others have chanted similar views, with the X Keeny user stating that in an actual time tracking can cause a revolution in large financial systems. However, some, such as Aquino, encryption stores and analysis developers, was more cautious. they Proposal There can be challenges in implementing such a transformation, including political resistance and the complexity of ancient infrastructure.
Musk under the fire
Musk statements come in the wake of Reports This may have been able to access the sensitive taxpayer data kept by the US Treasury in an attempt to “block payments illegally” for various government programs.
Last month, the CEO of Tesla was ultimately himself in the wrong end for a lawsuit by the American Securities and Stock Exchange Committee (SEC), claiming that he failed to reveal X’s holdings for him within the required time frame after obtaining more than 5 % of the shares of the social platform .
He is currently the only head of the DOGE team after the resignation of the Vivek Ramaswamy participants in January. The billionaire businessman has previously warned that some of the measures that his team will implement may slow the growth of bitcoin.
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