Elon Musk is diving deeper into his role within the new U.S. administration, working closely with Donald Trump, while considering blockchain technology for his leadership of the Department of Government Efficiency (DOGE).
Musk has discussed the potential benefits of integrating blockchain to streamline federal spending, enhance data security, simplify payment systems, and oversee government facilities.
As these discussions unfold, Hedera (HBAR), a rapidly growing crypto project, has expressed interest in collaborating with Musk’s department. Hedera has publicly extended an offer to incorporate its blockchain solutions into DOGE, emphasizing the advantages of its USD-pegged fees for tracking government spending.
In a recent post, the Hedera team directly addressed Musk, suggesting that using their blockchain could simplify the process without introducing unnecessary complexity.
Hedera’s offer has drawn attention, with Cardano’s (ADA) founder Charles Hoskinson also weighing in, offering Cardano’s blockchain to assist Musk’s efforts, even offering the support free of charge.
Both blockchain projects are eager to be part of the potential government efficiency overhaul Musk is pushing forward.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.
Anchorage Digital, a federally chartered crypto custody bank, is urging its institutional clients to move away from major stablecoins like USDC, Agora USD (AUSD), and Usual USD (USD0), recommending instead a shift to the Global Dollar (USDG) — a stablecoin issued by Paxos and backed by a consortium that includes Anchorage itself.
Ethereum co-founder Vitalik Buterin has voiced concerns over the rise of zero-knowledge (ZK) digital identity projects, specifically warning that systems like World — formerly Worldcoin and backed by OpenAI’s Sam Altman — could undermine pseudonymity in the digital world.
A new report by the European Central Bank (ECB) reveals that digital payment methods continue to gain ground across the euro area, though cash remains a vital part of the consumer payment landscape — particularly for small-value transactions and person-to-person (P2P) payments.