Elon Musk is becoming an important driver in the digital asset industry.
According to Bloomberg, Musk has begun discussing the use of blockchain technology in the newly established Department of Government Efficiency (DOGE). He has explored ideas with close allies about utilizing distributed ledger technology to improve government efficiency and reduce costs.
Discussion topics include using blockchain to track federal spending, protect data, make payments, and even manage buildings.
The DOGE team has met with representatives from several public blockchain projects to assess their technical feasibility. A source stated that Musk recruited about 100 volunteers to write code for the project before Trump's inauguration.
<h2>Musk explores the application of blockchain in U.S. government efficiency efforts</h2>
With Trump's inauguration, the pace of implementing digital asset-friendly policies is also accelerating.
On Thursday, January 23, Eastern Time, the White House announced that President Trump signed an executive order titled &#34;Strengthening America's Leadership in Digital Financial Technology.&#34; The order calls for the establishment of a presidential “Working Group on Digital Asset Markets” within the National Economic Council, which advises the president, aiming to improve government efficiency and productivity through modernized government technology and software.
According to this order, one of the tasks of the Department of Government Efficiency is to collaborate with the Office of Management and Budget to identify and implement spending reduction measures, with related recommendations to be completed by July 4, 2026.
Since the advent of Bitcoin, blockchain has been viewed as a decentralized and highly secure method of recording transactions. Nevertheless, effectively applying blockchain in large institutions remains a challenging topic.
The idea of using blockchain for large projects is not new. Years ago, large companies, including Walmart, launched blockchain projects, mostly using private chains. However, these projects often proved difficult to manage and stalled. Many enterprises found that blockchain is not necessarily more economical or efficient than existing database technologies.
Gartner predicted in 2019 that &#34;90% of current enterprise blockchain platform implementations will need to be replaced by 2021 to remain competitive and secure.&#34;
Sam Hammond, chief economist at the U.S. Innovation Foundation, stated that blockchain within the government could be used to securely and transparently track spending, documents, and contracts. But he also pointed out that traditional databases might be equally capable of these tasks, with fewer drawbacks.
Campbell Harvey, a finance professor at Duke University, emphasized that a major issue with the government using public blockchain is the lack of control.
However, in recent years, some large institutions have begun using public blockchains for commercial purposes. For example, BlackRock has issued money market funds on multiple cryptocurrency ledgers, and the California Department of Motor Vehicles has stored ownership data for millions of vehicles on the Avalanche blockchain

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Elon Musk has begun discussions on using blockchain technology in the newly established Department of Government Efficiency (DOGE). He has explored ideas with close allies about leveraging digital ledger technology to improve government efficiency and reduce costs, including discussions on using blockchain to track federal spending, protect data, make payments, and even manage buildings

- Elon Musk is becoming a significant proponent in the digital asset sector, discussing the use of blockchain technology in the newly established Department of Government Efficiency (DOGE).  
- The White House recently announced an executive order aimed at enhancing the U.S. leadership in digital financial technology, which includes forming a Working Group on Digital Asset Markets to modernize government operations.  
- Despite the potential benefits of blockchain for tracking expenditures and improving efficiency, challenges remain regarding its implementation in large institutions, with traditional databases often proving to be more effective.

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The crypto community is excited! A hundred volunteers have been recruited to write code, and Musk plans to use blockchain for DOGE