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Changpeng Zhao, co-founder of Binance, said that governments should track all public spending on blockchain to enhance transparency and accountability. This statement was made in a January 25 post on X.
According to Bloomberg, Elon Musk, as head of the Department of Government Efficiency (DOGE), is exploring the use of blockchain technology to monitor federal spending, enhance data security, facilitate payments, and manage government properties. Individuals associated with DOGE have reportedly met with representatives from public blockchain networks to assess their applicability for these purposes.
In December 2023, the Joint Financial Management Improvement Program (JFMIP) published a report titled "Harnessing Blockchain in the Federal Government: Key Considerations for Financial Management and Information Systems." This report details the expansion of a blockchain prototype for grants financial management across multiple federal agencies, aiming to enhance transparency, efficiency, and data integrity in federal financial management.
CZ's X post
| https://x.com/cz_binance/status/1883177407483695503
