The Department of Government Efficiency, the cost-cutting initiative led by billionaire Elon Musk, is reportedly considering the use of a public blockchain to bring transparency and other potential benefits to government operations and spending.
That's according to Bloomberg, which reported Saturday that Musk's DOGE agency is holding conversations with representatives from multiple existing public blockchains, according to sources close to the conversations.
No specific chains are mentioned in the report, though Bloomberg reports that DOGE is keen on using a blockchain—an immutable, public ledger—to monitor government spending and handle payments, handle data, and perhaps even "manage buildings" under the U.S. government's purview.
Elizabeth Warren Takes Aim at Elon Musk's DOGE: 'A Venue for Corruption'
Democratic senator Elizabeth Warren is going hard after Elon Musk and his cost-cutting Department of Government Efficiency, aka DOGE—yes, like the meme coin—claiming that the new body “appears to be a venue for corruption.” In a letter to the world’s richest man and a key President Trump ally, Senator Warren suggested a long list of reforms which she says could save $2 trillion over a decade without cutting essential programs or raising middle-class taxes. Tesla and SpaceX boss Musk now runs DOG...
DOGE—which appears to share its acronym with the ticker of Musk's favorite cryptocurrency, Dogecoin—was discussed on President Donald Trump's campaign trail and then made official following his November election win. Musk was supposed to co-run the effort with Vivek Ramaswamy, but the latter billionaire and Bitcoin fan departed this week for an apparent run at Ohio governor.
Musk has said that DOGE aims to cut $2 trillion from the federal government via a combination of budget cuts and layoffs, though he has since backtracked and said that $1 trillion is more likely.
Elon Musk and DOGE: What You Need to Know About the Department of Government Efficiency
SpaceX CEO Elon Musk is helming a new U.S. government initiative aimed at lowering the federal budget deficit. Called the Department of Government Efficiency (DOGE), the initiative—which has an acronym identical to the ticker of Musk’s favorite cryptocurrency, Dogecoin—will “slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” according to President-elect Donald Trump. Here's everything you need to know about DOGE. What is DOGE? DOGE is a U.S. government initia...
This week, Senator Elizabeth Warren wrote in a letter to Musk that DOGE appears to be a "venue for corruption," and suggested $2 trillion worth of spending cuts that wouldn't impact essential programs or raise taxes for middle-class Americans.
Musk is an avowed fan of Dogecoin, while Trump has launched NFTs across Ethereum scaling network Polygon as well as Bitcoin, and debuted his official meme coin on Solana last week. However, there's no word yet on which chain or chains might be used in the potential DOGE blockchain initiative.
