EddieJayonCrypto
10 Mar 25
The US Department of Housing and Urban Development (HUD) is considering using blockchain to track grant recipients' spending and may explore stablecoins as a financial tool. This has sparked intense debate due to concerns about financial management efficiency. HUD officials have held meetings to dis...
The US Department of Housing and Urban Development (HUD) is considering using blockchain to track grant recipients' spending and may explore stablecoins as a financial tool. This has sparked intense debate due to concerns about financial management efficiency. According to ProPublica, HUD is looking to leverage blockchain to improve oversight of grant funds. Irving Dennis, the agency’s Deputy Chief Financial Officer, believes the technology could enhance transparency and efficiency in grant monitoring. HUD officials recently held meetings to discuss the blockchain proposal, with some expressing concerns about introducing unregulated security into the housing market. Additionally, internal financial issues at HUD have raised doubts about the agency's ability to manage new technology. HUD has not made any announcements regarding blockchain trial discussions at this time. Recently, the Department of Government Efficiency (D.O.G.E.) shed light on internal financial problems at HUD, raising doubts about the agency’s ability to manage new technology. D.O.G.E. revealed that HUD had just completed a software license audit, uncovering severe waste. HUD's official press account responded to D.O.G.E.’s findings, saying the agency is reviewing every dollar spent and working closely with D.O.G.E. to address taxpayer money waste. As of this writing, HUD’s official account has not made any announcements regarding blockchain trial discussions.