Elon Musk proposes blockchain in US Treasury for transparency, efficiency, sparking global debate.

From Cointelegraph

April 2, 2025 11:00 am:

Elon Musk’s proposal to incorporate blockchain technology into the US Treasury has sparked global debate on state finances. The idea of a blockchain-powered government infrastructure offers accountability and transparency. However, the complexity of government operations raises concerns about scalability. Musk’s hybrid model using ZK-rollups shows potential for handling millions of daily transactions efficiently.

The transition to blockchain infrastructure in government faces human challenges. Retraining employees and migrating data from outdated systems pose significant hurdles. While blockchain offers transparency in spending, protecting sensitive data on a public blockchain remains a concern. Musk’s vision aims to increase accountability and empower citizens through real-time access to government transactions.

Despite the potential benefits of blockchain in government, challenges lie in the transition process and balancing transparency with confidentiality. Musk’s proposal raises questions about privacy and governance in the future. The shift towards blockchain technology may revolutionize how society understands authority and accountability. The vision of a blockchain-powered government requires careful consideration of its implications on governance and privacy.

Read more at Cointelegraph: What could go wrong and what could go right?