Coinbase CEO backs blockchain for government spending
Experts support blockchain adoption, suggesting it could position the US as a leader in financial transparency.
Elon Musk’s Department of Government Efficiency (DOGE) has saved US taxpayers $36.7 billion, sparking fresh calls for blockchain technology to bring transparency to government spending. According to Doge-tracker data, this represents just a fraction of Musk’s goal to cut $2 trillion in spending. Coinbase CEO Brian Armstrong praised the initiative, arguing that a blockchain-based treasury could provide real-time oversight of financial transactions.
In a recent breakthrough, DOGE identified a $100 billion loophole in government spending linked to entitlement payments to individuals without valid identification. Musk described this as ‘utterly insane,’ estimating at least half of these payments could be fraudulent. A new agreement with the US Treasury aims to close these gaps by enforcing stricter payment tracking and updating the “DO-NOT-PAY” list more frequently.
Crypto experts believe adopting blockchain for the US Treasury could position the country as a leader in financial transparency and innovation. Jean Rausis of Smardex stressed that any such system must remain decentralised to be truly effective. DOGE’s work is expected to conclude on 4 July 2026, with a plan to deliver a leaner, more efficient government in time for the US’s 250th Independence anniversary.
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