Policy, Blockchain, Trump Administration The plan goals to combine blockchain know-how into the procurement system to reinforce safety, transparency, and traceability of help distributions.
The Trump administration is getting ready to restructure the U.S. Agency for International Development (USAID) and combine blockchain know-how into its procurement system, Wired reported, citing a memo circulating amongst State Department employees.
The plan proposes rebranding the company as U.S. International Humanitarian Assistance and shifting it instantly beneath the authority of the Secretary of State, Wired stated. It would leverage a blockchain to hint help distributions and implement cost fashions based mostly on outcomes quite than inputs.
“All distributions would also be secured and traced via blockchain technology to radically increase security, transparency, and traceability,” the memo reportedly reads, including that such an method would encourage innovation and effectivity.
It’s unclear whether or not the blockchain would contain cryptocurrency or stablecoin utilization, or just act as a digital ledger.
USAID has been beneath scrutiny from the Trump administration because the institution of the Department of Government Efficiency (DOGE), led by Elon Musk. DOGE has prior to now proposed the use of blockchain technology to boost efficiency. The president froze USAID payments in a Jan. 20 government order.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data Read More