blockchaininpublicsector

"Governments Should Embrace Blockchain to Track and Manage Public Spending, Says CZ."

According to data from the International Monetary Fund (IMF), total global government debt now accounts for over $102 trillion.

Binance co-founder Changpeng Zhao (CZ) echoed calls for government transparency by bringing all public spending onchain in every country.

CZ chimed in following reports of Elon Musk and the Department of Government Efficiency (DOGE) exploring blockchain to track government spending and reduce the federal deficit in the United States. CZ wrote in a Jan. 25 X post:

"Unpopular opinion: All governments should track all their spending on the blockchain — an immutable public ledger. It's called 'public spending' for a reason."
The potential of onchain tracking of government spending sparked an online discussion and garnered the support of small-government and sound money advocates calling for fiscal accountability and transparency.

"Disclaimer: This is for informational purposes only and not endorsed by Binance. Crypto investments are volatile and can lead to losses. Do your own research. Not financial advice."

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