"Enhancing Efficiency with Advanced Technology"... Musk Initiates 'Blockchain Government'

Bloomberg News "Musk Begins Research to Reduce Government Operating Costs"

Elon Musk, the CEO of Tesla and head of the Department of Government Efficiency (DOGE) in the second Trump administration, is exploring ways to enhance the efficiency of government agencies by utilizing blockchain technology, Bloomberg News reported on the 25th (local time).

A source stated that Musk is researching ways to reduce government operating costs using blockchain and has begun discussions on the matter. Topics of discussion include the use of blockchain for tracking federal spending, data security, payment processing, and building management, according to the source. Another source revealed that DOGE officials have met with representatives from various public blockchains to evaluate their technology.

Bloomberg News assessed that the discussions on utilizing blockchain technology are natural, given that the name 'DOGE' itself is derived from the cryptocurrency 'Dogecoin'.

Established in the second Trump administration, DOGE is tasked with modernizing the federal government's technology and software to maximize government efficiency and productivity. The department is working with the White House Office of Management and Budget (OMB) to find ways to cut spending and is set to complete recommendations by July next year.

Bloomberg explained that while the concept of using blockchain for large-scale projects is not new, applying it to a massive institution like the U.S. government is still experimental. If DOGE pushes this technology, it could become the largest government project of its kind ever seen in the U.S.

Reporter Song Jong-hyun scream@hankyung.com