The Ministry of Housing and Urban Development to explore the use of Blockchain and Stablecoins to track grants: Report
The US Housing and Urban Development (HUD) is said to be considering using Blockchain and Stablecoins technology.
ProPublica, citing the registration of a meeting, “three officials familiar with this issue” and other materials that have been reviewed, Reports The executive section is considering using Blockchain technology to track HUD grants.
Irfing Dennis, the main deputy financial director of HUD, was said to have been leading a Blockchain conversation, according to an unveiled official in the administration, although Dennis denied this idea to Propublica.
Dennis previously worked as a partner in the accounting giant, who was reported to have sent an executive director to discuss the Blockchain idea with HUD officials earlier this year. Ey confirmed that the discussions took place, according to the ProPublica.
According to HUD, the use of Stablecoins. Blockchain and Stablecoin discussions were born some anxiety in the executive section.
One of Hud officials told ProPublica,
“I do not see any way this will help anything. I see many ways it can hurt.”
It is said that Elon Musk, who heads the new government efficiency of President Donald Trump (DOGE), has been said to take advantage of the Blockchain technology to cut off government expenditures, control federal expenses, American data dramas against bad actors, operations and real estate management payments.
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