Imagine Government Spending Using Blockchain Technology

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Imagine how different Government spending would be if the Government used Blockchain technology to record all spending. As anyone who has made a payment with cryptocurrency knows, the record of the transaction can be easily looked up for all to see. Imagine if we could see every transaction the Government makes, every dollar spent. I suspect Government waste would be drastically reduced.

Blockchain technology would also eliminate the “back office expense” as much of the accounting would be built into each blockchain transaction. We would need fewer people to oversee and report on financial transactions which would lead to additional savings. This would also prevent fraud as “missing money” would be almost impossible to explain.

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