Elon Musk Calls for Blockchain Integration in US Treasury Amid Fraud Concerns

Elon Musk, leading the U.S. Department of Government Efficiency (DOGE), has reignited discussions on blockchain’s role in financial transparency. In a bold response on X, Musk emphatically endorsed the idea of integrating blockchain into U.S. Treasury transactions.

"Career Treasury officials are breaking the law every hour of every day by approving payments that are fraudulent or do not match the funding laws passed by Congress," Musk stated, calling for immediate reforms.

Reports from Bloomberg suggest that Musk has been actively exploring blockchain technology to cut government spending and streamline financial processes. Meanwhile, the New York Times revealed that former Treasury Secretary Scott Bessent had granted DOGE department access to a critical payment system that processes $5 trillion annually.

Insiders close to Musk disclosed to Forbes that proposals are circulating for blockchain-based solutions to enhance security, monitor federal expenditures, and facilitate government payments. However, it remains uncertain whether Musk intends to leverage existing blockchain networks like Bitcoin, Ethereum, or Dogecoin—or spearhead the development of a new government-specific blockchain.

With Trump’s crypto task force already strategizing a digital asset reserve, Musk’s push for blockchain could mark a pivotal shift in federal financial operations.