Tesla CEO Elon Musk and Former Google Executive Ramaswamy recently announced their plans to work towards streamlining and downsizing the federal government using DOGE. Musk, a long-time crypto enthusiast, and Ramaswamy believe that a decentralized finance system, such as DOGE, could diminish the control of the widely-distrusted government over people’s wealth and increase individual sovereignty.
While many regulatory body members are concerned about the potential risks cryptocurrencies could induce, Musk and Ramaswamy appear confident in their venture. By discussing with lawmakers, they aim to address all concerns and expose the benefits of the crypto-based framework in government operations.
They believe that using cryptocurrency could remove thousands of unnecessary bureaucratic processes and optimize the current inefficient systems in place. This would eventually lead to cost savings for the government and more streamlined, transparent public services.
However, implementing this type of infrastructure will likely face much opposition from those who are skeptical of cryptocurrencies due to their unpredictable nature and volatility. So, Musk’s and Ramaswamy’s ability to convince lawmakers will play significant roles in their reform’s success.
