Elon Musk-headed Department of Government Efficiency could tap blockchain technology to support its objectives of cutting federal spending, according to a report on Saturday.
What happened: Musk, who floated the idea of the so-called agency, was contemplating the use of a digital ledger to track spending, secure data, and make payments, Bloomberg reported, citing people with knowledge of discussions
Executives from the newly formed organization have also met with representatives of public blockchains to study their technology for possible integration.
The Department of Government Efficiency didn’t immediately return Benzinga’s request for comment.
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