Brian Armstrong advocated Elon Musk’s idea of shifting all government spending records to a blockchain network, making government spending crystal clear.
Brian Armstrong, CEO & co-founder of the top American crypto exchange Coinbase, is known as a successful crypto entrepreneur. Usually, he shares his new idea about the changing landscape around Cryptocurrencies.
On 9 Feb 2025, Brian Armstrong shared his idea on X (formerly Twitter) to shift all the government expenditure & spending on the blockchain network. Armstrong added that if it is possible then it would be easy to audit.
The Coinbase CEO also attached an unofficial link to Doge, a temporary government agency established by US President Donald Trump & currently Elon Musk is currently handling the leadership. At the shared link, we can see the efforts & progress achieved by the DOGE department to reduce unnecessary government spending & help the US to get out of trillion debt pressure.
On the same day, Elon Musk also talked about the significant authority & relationship established between the US Treasury & DOGE department. He said that the DOGE team and the U.S. Treasury have agreed on some basic but important changes to improve financial accountability to achieve the DOGE department’s goal to help the Trump administration reduce the debt pressure.
Musk shared multiple points on the mutual agreement between the two agencies, but the main points to note are the following.
- All government payments must include a category code for audits. Currently many are left blank, so it is very difficult to audit the records.
- All the payments made by the government department must also have a proper reason stated in the comment field, under any circumstances.
- The “Do-Not-Pay” list (which blocks payments to fraudsters, deceased individuals, and unauthorized entities) must be properly enforced and updated regularly. It currently takes too long to add names.
Musk noted that all these developments & changes should be done by the career government employees, not the DOGE team, but they weren’t already in place.
In addition to finding all these issues, separate reports note that over $100 billion per year was paid to individuals without SSNs or temporary IDs. Investigators & experts believe that nearly half of this amount is a clear fraud, so this issue needs urgent attention.
Elon Musk seeks Blockchain technology adoption
As we know, the DOGE agency was established temporarily for the next few years, but in the short life period, this department aimed to work with very high efficiency as well as bring efficiency in the government departments.
Already Musk proposed the idea of using blockchain technology to make government payment transactions public. Reportedly the DOGE department contacted many crypto projects & companies to share their idea to do the same.
Cardano founder Charles Hoskinson also offered the Musk & DOGE department to adopt blockchain technology to achieve goals.
Another crypto project, Hedera ($HBAR), also publicly showed interest in Collab with the DOGE department. Hedera emphasized that its USD-pegged fees tracking system can help in tracking government spending. They claimed that Hedera already provides the same, for which the Doge department is looking.
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