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🚨 JUST IN: Elon Musk is exploring blockchain technology to track US government spending, secure data, process payments, and manage federal property, aiming to boost transparency and reduce waste, though critics warn of potential challenges.

Elon Musk's DOGE is considering blockchain adoption in gov't efficiency push: Bloomberg

As reported by Odaili, the US Government Efficiency Department (DOGE) announced on Friday in a post on X that it has canceled existing or soon-to-be-signed government contracts totaling approximately $420 million within 80 hours, along with two lease agreements. BusinessInsider calculations show that this equals approximately $126 million in contracts canceled daily. If the department continues at this pace from January 20, 2025, to July 4, 2026, for 530 days, it could potentially cancel contracts totaling approximately $67 billion annually. This would account for roughly 3% of Elon Musk's initial goal of reducing the federal budget by $2 trillion or 7% of his revised goal of $1 trillion. Currently, DOGE is primarily focused on contracts related to diversity, equity, and inclusion (DEI) and unused buildings. However, it cannot directly alter the federal budget without congressional approval. The temporary daemon DOGE is set to cease operations on July 4, 2026. #DOGE# #MXNA# #BGB# #TRUMP#

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