US housing dept mulls blockchain, stablecoin to pay and monitor grants: Report

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The US Department of Housing and Urban Development is reportedly looking to experiment with using blockchain and a stablecoin for some of its functions.

The department, whose duties include overseeing social housing, has so far discussed the possibility of using blockchain to monitor grants, ProPublica reported on March 7, citing a meeting recording, documents and three officials familiar with the matter. 

Also discussed was the idea of experimenting with paying a HUD grantee using a stablecoin, which could first be tested in one of the department’s…



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US housing dept mulls blockchain, stablecoin to pay and monitor grants: Report


The US Department of Housing and Urban Development is reportedly looking to experiment with using blockchain and a stablecoin for some of its functions.

The department, whose duties include overseeing social housing, has so far discussed the possibility of using blockchain to monitor grants, ProPublica reported on March 7, citing a meeting recording, documents and three officials familiar with the matter. 

Also discussed was the idea of experimenting with paying a HUD grantee using a stablecoin, which could first be tested in one of the department’s…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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