Elon Musk proposes using blockchain to enhance transparency and combat fraud in the US Treasury. Learn more about the benefits of blockchain technology in fighting corruption.
Elon Musk, the head of the Department of Government Efficiency (D.O.G.E) in Donald Trump’s administration, suggested using blockchain technology as a solution to tackle fraud in the US Treasury. Musk criticized the violations in the treasury, stating that by approving illegal payments, treasury officials are breaking the law every hour. Supporters of this initiative believe that blockchain can increase transparency by recording and tracking all transactions, preventing backdoor deals and improper budget allocations. This proposal comes as Ukraine has successfully reduced corruption in aid management using a transparent blockchain-based network.
