Elon Musk Eyes Blockchain as Tool to Overhaul Govt Spending Oversight: Report

Elon Musk is reportedly looking to leverage blockchain to reduce government spending, signaling a broader effort to support the digital asset industry’s growth under the Trump administration.

According to a Bloomberg report on Saturday, Musk has begun discussions about implementing blockchain at the newly established Department of Government Efficiency (DOGE), which he oversees.

Sources revealed that the conversations include using blockchain to monitor federal spending, secure sensitive data, facilitate payments and even manage government buildings.

Further, representatives linked to DOGE have reportedly held meetings with various public blockchain teams to evaluate their technology.

Elon Musk Takes Sole Charge of DOGE, Aiming to Overhaul Government Operations With Tech

DOGE is working to boost US government productivity by modernizing federal technology and software. Its efforts prioritize upgrading software, improving network infrastructure, and ensuring IT systems across agencies work seamlessly together, all with the goal of cutting waste, preventing fraud and reducing abuse.

In November, President Donald Trump appointed Elon Musk and Vivek Ramaswamy to lead DOGE. However, philosophical disagreements reportedly prompted Ramaswamy to step down, leaving Musk, the world’s richest man, solely in charge. This decision may raise concerns, as Musk has claimed that federal spending could be reduced by “at least” $2 trillion.

The reported consideration of blockchain for government use by DOGE carries a certain inherent logic. After all, the department’s name playfully nods to Dogecoin, the meme-inspired cryptocurrency Musk has often endorsed.

By linking the department’s branding to the world of cryptocurrency, Musk boldly blurs the line between satire and genuine reform. At the same time, he leans into blockchain’s potential to boost efficiency and promote transparency in public systems.

White House Moves Forward with Crypto-Friendly Policies

In a related policy shift, Trump has accelerated efforts to embrace crypto-friendly initiatives. On Thursday, he solidified his administration’s stance by signing an executive order to create a working group on digital assets.

This group, made up of key administration officials, will focus on developing strategies for integrating and regulating digital currencies within the US economic framework. The order also includes provisions for the potential creation of a strategic national digital assets reserve.