Trumps USAID Overhaul Could Include Blockchain for Increased Transparency
The President Donald Trump administration is reportedly considering the use of blockchain technology in USAID procurement.From placing staff on administrative leave to massive layoffs, it is clear that the Trump administration intends to implement significant changes at the U.S. Agency for International Development (USAID). Now, recent reports suggest that this plan may include blockchain technology.On Wednesday, March 19, POLITICO reported that Trump administration officials have crafted a proposal to bolster USAID's efficiency to better advance the U.S. foreign policy agenda and counter China's foreign policy advances, citing a 13-page memo reportedly circulating within the agency.Among other things, the memo proposes changing the agency's name to the U.S. Agency for International Humanitarian Assistance (IHA), placing the agency under the oversight of the Secretary of State, and utilizing blockchain technology in its procurement processes.The memo claims that this move will make the process more performance-based by significantly improving security, transparency, and traceability.Meanwhile, the memo did not specify whether this will leverage cryptocurrencies for payments or simply use a blockchain to track cash flows.The memo comes as Elon Musk, head of the Trump administration-established Department of Government Efficiency (D.O.G.E.), has long toyed with the idea of putting some government processes onto the blockchain.In January, speculation that the Tesla boss was considering the Movement blockchain for this purpose sent its native token, MOVE, soaring.Nonetheless, USAID changes, like those proposed in the recent memo, including efforts to leverage blockchain in procurements, will likely require Congressional approval, as the memo itself admits.Getting Congressional approval, however, could prove difficult, as Republicans hold only a narrow majority.
Text source: The Crypto Basic
