Elon Musk Proposes Putting US Treasury on Blockchain

https://futurism.com/elon-musk-treasury-blockchain

by FuturismDotCom

22 comments

  1. If it’s unclear to you what that even means in practice, you’re not alone. Forbes has reported that, so far, Musk has floated using the blockchain to safeguard data, track federal spending, make payments on behalf of the federal government, and manage agency buildings — things that are already done with regular payment systems using the dollar. Musk hasn’t yet explained what any of his nebulous blockchain plans mean, except that they will “save us money.”

  2. Brilliant move, then we can see the ledger in real time and the payments to everyone. It would greatly improve transparency.

  3. Since it’s s a terrible idea, I was expecting it 100%

  5. It’s not a proposal. It’s a barely disguised intention that he wants circulated right now. 

  6. It would lead to two systems. The blockchain and total transparency for the average citizen. Then a hidden system for everywhere the the light actually needs to shine.

  7. There it is. There is the reason he wanted all the access. Money says he benefits from block chain and it would have to run through X.

  9. He’s been promising progress on full self drive for a decade.

    Trump has been promising a health care plan for a decade.

    It’s all lies.

  10. So, digital fully traceable money so big government knows exactly where do I spend my money? Stalin would be proud

  12. This little shit thinks he can be a dictator and that people will just let all this happen 😆

    Hey America – you have no idea how powerful you are. Do not submit!

  13. It’s a complete waste of time and energy, but as usual crypto evangelists are desperate for a use-case.

  15. This solves the wrong problem. People aren’t suspicious of federal spending because of a lack of transparency at the Treasury.

    The problem is that conservatives with a sixth grade reading level are fed stupid conspiracy theories on a daily basis by the right wing media ecosystem.

    Changing the payment system will not fix that. Your money will still go mostly to Medicare, Social Security, defense, and borrowing to pay for unfunded tax cuts.

  16. It honestly makes sense. There’s a reason many central banks have studied and experimented with CBDCs, which basically is «Treasury on blockchain»

    That’s a red herring however as focus should be on what kind of data Musk and his hacker kiddie army is exfiltrating

  17. When Tesla, Starlink, and SpaceX are all run using a blockchain method, successfully, then it’ll be worth considering, given due process.

  18. He needs to focus on Tesla which has experienced a $15 billion loss in value in the last 2 years 🤣. Sales are down 40-60 percent in Europe and China doesn’t need him since they have their own cars. Wonder how long his factory there will stay operational.

  19. What’s really should be in Blockchain is the stock market shares.

  20. I know one way to deal with excess spending is to cut a little bit off from the top of all invested recipients.

  22. How about we use block chain for the election system so you can track your vote based on your anonymous id.

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