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Discussions And Potential Purposes
Bloomberg reported on Saturday that Musk’s DOGE company is holding discussions with representatives from a number of present public blockchains, per nameless sources aware about the matter.
No particular blockchain networks had been talked about, though Bloomberg claimed that the newly commissioned non-government division is eager on utilizing a blockchain to watch authorities spending, stream fee methods, strengthen knowledge safety measures, and even perhaps handle US authorities buildings.
Sources point out that representatives from D.O.G.E have assessed the technical deserves of a number of public blockchain platforms for these purposes, participating in discussions about how blockchain may very well be built-in throughout varied authorities processes.
Former Binance CEO Changpeng Zhao shared his ideas following stories of Musk and D.O.G.E. contemplating blockchain to trace authorities spending and decrease the federal deficit in america. Zhao posited in a Jan. 25 publish on X:
 
“Unpopular opinion: All governments ought to observe all their spending on the blockchain — an immutable public ledger. It’s known as ‘public spending’ for a purpose.”
The Division of Government company, which shares the identical ticker with Musk’s favourite cryptocurrency, Dogecoin, was mentioned on President Donald Trump’s marketing campaign path after which made official after he received the election in November. Musk was purported to co-lead the initiative with pro-crypto entrepreneur Vivek Ramaswamy, however the latter departed this week to run for Ohio governor.
Musk has lengthy been a vocal Dogecoin fanatic, whereas Trump has debuted non-fungible tokens (NFTs) throughout Ethereum, Polygon, and Bitcoin. Furthermore, the official $TRUMP and $MELANIA meme cash had been each launched on Solana final week. Therefore, it’s unclear which blockchain(s) could be used within the potential DOGE blockchain undertaking.
D.O.G.E Takes First Steps
On Jan. 21, the DOGE company launched its official web site and briefly featured the Dogecoin brand. The value of the world’s largest meme coin rocketed following the web site’s launch. Nevertheless, the Dogecoin brand has since been eliminated as of press time.
Ought to D.O.G.E’s blockchain initiative be applied, it will seemingly be the most important authorities blockchain undertaking within the historical past of america.
The event, in the meantime, signifies an enormous step within the Trump authorities’s push to undertake digital belongings. On Thursday, the brand new commander-in-chief signed a landmark crypto-related govt order establishing the Presidential Working Group on Digital Asset Markets.
The group, chaired by the White Home AI & Crypti Czar David Sacks, is tasked with formulating federal digital asset legal guidelines and exploring the creation of a nationwide strategic digital belongings stockpile. The EO additionally bars federal companies from creating central financial institution digital currencies (CBDCs).
