Elon Musk Insists There is Inefficiency and Fraud Spending in the US Treasury, Suggests Moving it to Blockchain

Elon Musk is tightly integrated into the new Donald Trump administration, and DOGE now makes him a federal employee with fairly broad powers.

Elon Musk Proposes Moving US Treasury to Blockchain to Curb Fraudulent Spending

Billionaire entrepreneur and Tesla CEO Elon Musk has proposed moving the US Treasury to a blockchain system to enhance transparency and curb fraudulent spending.

Musk, who recently joined the Trump administration as a member of the President's Council on Jobs and Competitiveness, has been granted broad powers to optimize government systems. As part of this effort, Musk's team has been closely monitoring the US Treasury's operations.

Despite being limited to "read-only" access, Musk has encountered substantial evidence of inefficiency and fraud within the Treasury's spending practices.

In response to these findings, Musk has strongly advocated for a comprehensive review and optimization of the US Treasury. He ultimately suggests shifting the entire Treasury to a blockchain system.

According to Musk, this move would instill maximum immutability, transparency, and accountability within the critical US financial system.

However, it's crucial to note that transitioning the US Treasury to blockchain can be likened to performing open-heart surgery on a patient. Such an endeavor is bound to impact numerous interconnected systems.

To fully integrate blockchain technology, a complete reboot of the US financial infrastructure would be necessary. Even with the support of the new administration, such a drastic measure is unlikely to be implemented swiftly, if at all.

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