Binance Founder Changpeng Zhao Talks About Elon Musk’s Possible Cryptocurrency-Linked Initiative

There were some important developments today in the Department of Government Efficiency ($DOGE) initiative launched in the USA under the leadership of Elon Musk.

According to information reported by Bloomberg, Musk has begun researching blockchain use cases for this department.

Musk has been telling his inner circle about the idea of using a digital ledger as a way to cut government costs, said one of the people, who asked not to be identified because the discussions are not public. There has been talk of using a blockchain to track federal spending, secure data, make payments and even manage buildings, the people said.

A person with knowledge of the talks said that $DOGE members met with representatives of various public blockchains to evaluate their technologies.

However, a statement came from a familiar name in the cryptocurrency market regarding the issue. Binance founder and former CEO Changpeng Zhao evaluated Musk's use of blockchain in this initiative in his statement.

Zhao said that in his view, all governments should record their spending on the blockchain, an immutable public ledger, so that public spending can be truly visible to everyone.

*This is not investment advice.