Is Elon Musk plotting the mother of all blockchains?

Is Elon Musk plotting the mother of all blockchains?

Musk is said to be exploring public blockchains to curb wasteful government spending and stem fraud and abuse. Will it work

Elon Musk, the world’s richest person, is said to believe blockchain technology can boost government efficiency. Last week, he reportedly met with representatives of public blockchains to explore the use of distributed digital ledgers in his new Department of Government Efficiency (DOGE), Bloomberg claims, though nothing has been announced publicly. 

Still, if Musk does successfully apply blockchain technology to some part of the US government — whether DOGE or some other agency — what would it mean for the global blockchain industry? 

Would it inspire other governments to follow suit? Might the sheer scale of it become a game changer, a watershed moment for the global blockchain movement?

There are good reasons to believe that public, tamper-free digital ledgers could help track government spending, secure data and perhaps even make payments. But technical, political and educational obstacles surely remain.

Cointelegraph sought to unpack some of the questions raised by these recent reports.

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