The US Treasury on a Blockchain: the boom of capitalism
It's hard to not turn everything into a conspiracy these days, especially when a lot of what's being pushed to your face relates to a person or people you don't like. It sort of makes sense that “reputation” plays a role in the push backs against the Trump administration.
Trump has a bad rep, just as Elon. This makes it difficult for the left to see anything they are doing as “good” in any sense.
But that's expected regardless because this is politics. America-first seems more and more like a marketing ploy for Trump to totally destroy the government's power over the people.
It sounds weird, especially considering he's literally “government” but I would imagine that he doesn't intend to hold that position forever so he has to attempt to destabilize every system that enables heavy government control.
Why It Makes Sense
"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 posted to X, referencing part of the United States code which outlines how some government payments are approved. “This needs to stop now!”
Replying to X influencer Mario Nawfal who asked: "Should the Treasury be put on the blockchain so this doesn’t happen," Musk replied: “Yes!”
Unnamed people close to Musk told the financial newswire that there's been talk of using a blockchain to track federal spending, secure data, make payments and manage buildings.
It is unclear if Musk plans on using an existing blockchain, such as bitcoin's, ethereum's, dogecoin's or one of thousands of smaller blockchains which have their own cryptocurrencies, or if he would rather create a new, purpose built blockchain. - Forbes
My takeaway from this potential future that it's not just about transparency of government spending for accountability or whatever. It's also about weakening the system and giving power to private businesses and organisations.
Now when I say “private” I mean any business not owned by the government, it doesn't matter if it is publicly traded or not.
Think about, who benefits from an open government?
The people do, yes, and Elon Musk is the people, just as Trump is. This all just makes way for their private ventures to grow more powerful, potentially above the government because with the government's ass out in the public, it's hard to have them control shit because bombs may be cute but money controls the world and it's most effective when private.
There's a lot of personal interest in the Trump administration, it's literally supposed to be obvious. Elon can call himself tech support all he wants and reject getting paid for his role but anyone attentive enough can see what's in it all for him.
He runs what one might consider major companies of our time so he has to do this to destabilize the system that could potentially get in his way.
The public being able to monitor and track government spending could weaken the US government, at least in the short term. Also, let's not ignore the fact that if it comes to a situation where the nation's budget has excesses due to DOGE cutting off major wasteful fundings in place, that money will have to go elseway and you can bet that Digital assets and Space/EV technology will be amongst the heavily government-funded sectors.
With the former, Trump's the beneficiary, whilst with the latter, Elon is. So I guess Elon might just be the first Trillionaire afterall.
Whatever interest this might be serving, it all helps crypto and the technology industry as a whole.