On Sunday, Coinbase CEO Brian Armstrong shared ideas for the future Department of Government Efficiency (DOGE). What does he propose to improve the functioning of the American government?
Brian Armstrong, CEO of Coinbase, suggests areas for improvement that DOGE could implement
Last week, we learned that Donald Trump wanted to make the hunt for unnecessary spending in the American government a reality, by entrusting the leadership of a future Department of Government Efficiency (DOGE) to Elon Musk and Vivek Ramaswamy.
While the precise functioning of this new organization has yet to be clarified, Brian Armstrong, CEO of Coinbase, considers that DOGE is an unprecedented importunity to increase US economic freedom :
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Firstly, the person concerned returns to a crucial point that the founding fathers of the United States had probably not anticipated: the constant increase in the size of governmentwhose elected members have never stopped promising “ more free stuff ».
To try to stem this phenomenon, Brian Armstrong is taking up an idea originally shared by Warren Buffet, according to which members of Congress who vote for an unbalanced budget would be made ineligible for re-election. Regarding this budget, public spending could also be capped at 10% of GDP.
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According to the CEO of Coinbase, an exception to this rule could be made during times of war, but incentives should be found in order to maintain healthy finances in the long term. To do this, he suggests the idea of a popular fund :
An example would be a US sovereign wealth fund, in which every citizen would receive a share (perhaps people could buy more if they wanted), and any budget surplus would pay a dividend. Every citizen would then have a stake in the game. Perhaps Congress would get a slightly larger share.
Of course, these ideas are just what they are, and they may never come to fruition. At any rate, DOGE launched a call for applications
???? On the same subject — What will the Department of Government Efficiency (DOGE) led by Elon Musk and Vivek Ramaswamy consist of?
In a few weeks, the future actions of this department which will not really be one will then be able to become clearer, giving us an overview of upcoming government reform in the United States.
For its part, Coinbase shares trade at nearly $306 on the NASDAQ, for a capitalization of $76.6 billion.
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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