This has been a proposed use case for public blockchain technology for a long time. If government agencies have to use crypto currencies that run on public blockchains, that means anyone with a computer and internet connection can audit that agency to see exactly what they are spending their money on. You can even program the money so that it’s impossible to spend it on things that aren’t approved for that agency. Essentially it’s extreme transparency with the aim of preventing fraud.
And yes I know implementation will be hard. And yes I know the people at the helm right now have no genuine interest in government accountability or fraud prevention. But I’ve been following the development of blockchain technology for over a decade and this is literally one of the first use cases that was proposed when bitcoin was invented.
This has been a proposed use case for public blockchain technology for a long time. If government agencies have to use crypto currencies that run on public blockchains, that means anyone with a computer and internet connection can audit that agency to see exactly what they are spending their money on. You can even program the money so that it’s impossible to spend it on things that aren’t approved for that agency. Essentially it’s extreme transparency with the aim of preventing fraud.
And yes I know implementation will be hard. And yes I know the people at the helm right now have no genuine interest in government accountability or fraud prevention. But I’ve been following the development of blockchain technology for over a decade and this is literally one of the first use cases that was proposed when bitcoin was invented.