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Trump Administration Eyes Blockchain for Foreign Aid in USAID Overhaul: Report
The plan aims to integrate blockchain technology into the procurement system to enhance security, transparency, and traceability of aid distributions.
What to know:
- The Trump administration plans to restructure USAID, rebranding it as U.S. International Humanitarian Assistance and placing it under the Secretary of State’s authority, Wired reported.
- The plan involves integrating blockchain technology into USAID’s procurement system to enhance security, transparency, and traceability in aid distributions.
The Trump administration is preparing to restructure the U.S. Agency for International Development (USAID) and integrate blockchain technology into its procurement system, Wired reported, citing a memo circulating among State Department staff.
The plan proposes rebranding the agency as U.S. International Humanitarian Assistance and moving it directly under the authority of the Secretary of State, Wired said. It would leverage a blockchain to trace aid distributions and enforce payment models based on outcomes rather than inputs.
STORY CONTINUES BELOW
“All distributions would also be secured and traced via blockchain technology to radically increase security, transparency, and traceability,” the memo reportedly reads, adding that such an approach would encourage innovation and efficiency.
It’s unclear whether the blockchain would involve cryptocurrency or stablecoin usage, or simply act as a digital ledger.
USAID has been under scrutiny from the Trump administration since the establishment of the Department of Government Efficiency (DOGE), led by Elon Musk. DOGE has in the past proposed the use of blockchain technology to boost efficiency. The president froze USAID payments in a Jan. 20 executive order.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
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Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
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