Algorand Foundation wants DOGE to adopt its blockchain for government overhaul

The Algorand Basis has publicly urged Elon Musk’s Division of Authorities Effectivity (DOGE) to undertake its blockchain for presidency operations.

In a Feb. 4 submit on X, the inspiration highlighted how Algorand’s expertise may improve transparency, significantly in monitoring federal expenditures.

In accordance with Algorand, its blockchain is constructed with quantum-resistant safety, making it perfect for safeguarding delicate authorities information and stopping tampering.

Algorand is a proof-of-stake blockchain that was launched in 2019. Whereas its ALGO native token ranks among the many high 50 cryptocurrencies by market capitalization, adoption of the community has been sluggish.

Furthermore, the mission additionally faces authorized scrutiny, with the US Securities and Alternate Fee (SEC) arguing that ALGO qualifies as a safety and will adjust to federal rules.

Blockchain embrace

The muse’s assertion follows a number of studies of DOGE’s rising curiosity in utilizing blockchain options for public administration.

Final month, studies emerged that the group thought-about blockchain expertise a instrument to cut back governance prices. Potential purposes of the answer would come with monetary oversight, fee processing, information safety, and infrastructure administration.

DOGE officers have reportedly been discussing with a number of blockchain builders to find out the perfect match for the initiative.

This has sparked curiosity from numerous blockchain initiatives, together with Cardano. Its founder, Charles Hoskinson, lately urged a multi-chain method involving Cardano, Bitcoin, and Midnight, providing to contribute with out cost.

DOGE faces challenges

Whereas DOGE explores blockchain integration, its operations have come underneath authorized scrutiny.

On Feb. 3, the American Federation of Labor and Congress of Industrial Organizations filed a lawsuit towards the US Treasury. The union alleges that the company unlawfully granted DOGE entry to non-public and monetary information, violating federal protections.

Moreover, lawmakers have raised considerations about DOGE’s authority. Senator Chuck Schumer criticized the initiative, warning towards the unchecked affect of a privately managed group inside public establishments.

He argued that whereas technological developments are welcome, authorities oversight shouldn’t be modeled after a company startup.

Nevertheless, Musk responded that:

“[DOGE] is our ONE CHANCE to return POWER to the PEOPLE from an unelected BUREAUcracy again to DEMOcracy!!”