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US housing department explores blockchain for grant tracking

US housing department explores blockchain for grant tracking

GrafaGrafa2025/03/10 05:30
By:Mahathir Bayena

The US Department of Housing and Urban Development (HUD) has discussed using blockchain technology to monitor grants and potentially integrating stablecoins for payments, according to a report from ProPublica.  

A meeting in February explored a pilot project within the Community Planning and Development (CPD) office, which manages billions in grants for affordable housing and homeless shelters.

The proposal suggested using blockchain to track funds allocated to a single grantee.  

ProPublica cited a recording and documents indicating that the initiative was seen by some officials as a test case for broader blockchain adoption across federal agencies.

Two officials suggested the experiment could serve as a trial run for integrating crypto and blockchain technology into government financial operations.  

The discussions also included the possibility of stablecoin payments, though not all HUD officials supported the idea.

One internal memo reportedly described the plan as “dangerous and inefficient,” arguing that stablecoins introduce unnecessary complexity and volatility.  

At a follow-up meeting, opinions were mixed. Some staffers supported the concept, with one official suggesting stablecoins could be used for grantee payments.

Another finance official proposed that blockchain implementation could begin with CPD before expanding agency-wide.  

“Education is not implementation,” a HUD spokesperson clarified, stating that the department has no immediate plans to adopt blockchain or stablecoins.

President Donald Trump has taken a pro-crypto stance, and HUD’s reported blockchain discussions align with cost-cutting measures advocated by Elon Musk.

Meanwhile, Treasury Secretary Scott Bessent stated at the White House Crypto Summit on March 7 that the administration is evaluating a stablecoin framework to “keep the US [dollar] the dominant reserve currency in the world.”

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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