‘This Needs to Stop Now,’ Says Musk Criticizing US Treasury

Elon Musk, the renowned CEO of Tesla, has unveiled plans to implement blockchain technology within the U.S. Treasury, following extensive discussions with the Trump administration. Musk, who now holds a significant role within the White House, envisions blockchain as a transformative force for federal spending, data security, payment systems, and building management.

As the head of the newly established Doge department, dedicated to enhancing government efficiency, Musk has highlighted the shortcomings of current U.S. Treasury practices, alleging the approval of improper or fraudulent payments on a daily basis. "This must be rectified immediately!" Musk exclaimed on X, emphasizing violations of payment-related U.S. laws.

In response to inquiries regarding the implementation of blockchain within the Treasury, Musk unequivocally affirmed, "Yes!" Blockchain, the underlying technology behind cryptocurrencies such as Bitcoin and Musk's favored Dogecoin, holds the potential to revolutionize government operations.

Musk's blueprint for a blockchain-driven Treasury encompasses enhanced tracking of federal spending, robust data protection, streamlined payments, and optimized management. However, the precise blockchain platforms to be utilized remain uncertain, with options ranging from existing networks like Bitcoin, Ethereum, or Dogecoin to the potential development of a dedicated blockchain for the U.S. government.

This initiative aligns with reports of Musk's discussions with the Trump administration regarding blockchain's ability to drive cost savings and efficiency within the U.S. government. Sources close to Musk indicate that these discussions have already taken place.

The Doge department, a playful allusion to the ubiquitous Dogecoin meme, is seen as an integral part of Musk's broader efforts to foster the mainstream adoption of cryptocurrency, particularly within government systems. Dogecoin, which has received Musk's unwavering support, experienced a surge in value following Trump's electoral victory. Musk has also advocated for the incorporation of cryptocurrencies like Dogecoin as payment options for Tesla.

President Trump has prioritized the modernization of cryptocurrency policies, establishing a working group tasked with developing comprehensive crypto regulations and exploring the potential for a national cryptocurrency reserve.