The allegations that Elon Musk supported the idea of carrying all government spending in the United States on Blockchain made his mark on the agenda. Finally, Coinbase CEO Brian Armstrong also participated in this call. If this plan is implemented, the US budget of $ 6.9 trillion annually will be followed in a public book. This can prevent corruption by ensuring that each tax dollar is traceable and increasing transparency. At this point, crypto currencies such as XRP and Hbar stand out among the US selection subcoins.
Effects of Blockchain -based expenditure follow -up
One of the biggest advantages of blockchain technology is that data cannot be changed. Once the expenditures are saved, it will not be possible to manipulate later. In addition, a blockchain -based system can instantly detect fraudsters. In the current system, the US government’s spending database is far from being transparent. The records can only be accessed in certain sections and it is not possible to make a detailed word search. A possible blockchain transition can eliminate these limitations and provide more access to the public.
In particular, the US Department of Defense (Pentagon) has been on the agenda with budget deficits and control problems for years. Although the Pentagon has an asset of $ 3.8 trillion, it cannot explain 63 %of these assets. In 2018 financially, it was unsuccessful, despite the spent $ 1 billion for an audit. However, a blockchain -based system can prevent such problems and increase financial transparency.
Which one can Musk and Armstrong choose? Candidates XRP, Island, Hbar, Base!
If US government expenditures moved to Blockchain, it is of great importance which network will be preferred. According to Altcoin Buzz analysts, four prominent options are as follows:
- XRP LEDGER ($ XRP):Ripple CEO Brad Garlinghouse’s efforts to accept XRP as a strategic reserve by the government draw attention. This makes XRP Ledger one of the preferred networks.
- CARDANO ($ island):Cardano CEO Charles Hoskinson is a candidate for consulting crypto policies by establishing close relations with the Trump administration. Cardano may attract Musk’s attention because it offers a safe and transparent structure.
- Base: Coinbase’s Layer 2 blockchain network, Base, is an option directly supported by Armstrong. The US -based and the fact that Coinbase’s strength behind him increases Base’s chances.
- Hedera ($ hbar):Hedera uses hashgraph technology instead of blockchain, but still offers a distributed notebook. The fact that it has fixed its local wage system to USD increases the likelihood of preference.
