cryptobriefing.com
Elon Musk is reportedly considering Movement Blockchain as a potential platform for his $DOGE initiative, which aims to leverage blockchain technology for enhanced transparency and cost reduction in government operations.
A Bloomberg report released on Sunday revealed that Musk has discussed using blockchain to track federal spending, secure data, streamline payments, and manage government-owned infrastructure.
A post on X released earlier today by db, tier10k, highlighted that Movement Blockchain is among the firms currently in discussions with Musk’s $DOGE team to explore blockchain solutions.
Movement Blockchain is a Layer 2 solution on Ethereum, utilizing zero-knowledge (ZK) rollup technology to enhance scalability and security.
Sources familiar with the matter confirmed that $DOGE representatives are evaluating Movement alongside other public blockchains for their technological capabilities and potential to drive efficiency.
The $DOGE initiative views blockchain as a way to reduce fraud, waste, and abuse in government programs, aligning with Trump’s campaign focus on cutting the deficit.
Earlier today, Trump’s World Liberty Financial ($WLFI) acquired Movement Blockchain’s native token, MOVE, for its decentralized finance project.
The token surged 15% in value after $WLFI’s purchase and the db report linking Movement Blockchain to Musk’s $DOGE team.