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Why Elon Musk's Plan for a Blockchain-Based US Treasury is a Recipe for Disaster

MSN

While blockchain technology has the potential to revolutionise financial systems, implementing it for the US Treasury is a highly ambitious and potentially flawed idea. Even if security concerns are addressed, current blockchain capabilities are insufficient to handle the massive volume of Treasury payments, making it a risky proposition. As a proponent of blockchain, it's crucial to acknowledge its limitations and consider the potential consequences of such a significant overhaul. With the rise of digital payments and cryptocurrency, it's essential to weigh the benefits of blockchain against its current limitations, including scalability and security issues, to ensure a stable financial future.