Trump Administration Eyes Blockchain for Foreign Aid in USAID Overhaul: Report

The Trump administration is making ready to restructure the U.S. Agency for International Development (USAID) and combine blockchain expertise into its procurement system, Wired reported, citing a memo circulating amongst State Department workers.

The plan proposes rebranding the company as U.S. International Humanitarian Assistance and shifting it straight beneath the authority of the Secretary of State, Wired stated. It would leverage a blockchain to hint help distributions and implement cost fashions primarily based on outcomes quite than inputs.

“All distributions would also be secured and traced via blockchain technology to radically increase security, transparency, and traceability,” the memo reportedly reads, including that such an method would encourage innovation and effectivity.

It’s unclear whether or not the blockchain would contain cryptocurrency or stablecoin utilization, or just act as a digital ledger.

USAID has been beneath scrutiny from the Trump administration for the reason that institution of the Department of Government Efficiency (DOGE), led by Elon Musk. DOGE has in the previous proposed the use of blockchain expertise to spice up effectivity. The president froze USAID funds in a Jan. 20 govt order.