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[The US Department Of Housing And Urban Development Is Considering Using Blockchain And Stablecoins To Disburse And Monitor Grants] March 10Th, The U.S. Department Of Housing And Urban Development (Hud) Is Considering Experimenting With Blockchain And Stablecoins In Some Of Its Functions. According To Propublica'S Report On March 7Th (Citing A Meeting Recording, Relevant Documents, And Information From Three Informed Officials), The Department Has Discussed The Possibility Of Using Blockchain To Monitor Grants.In Addition, The Meeting Also Discussed The Idea Of Experimenting With Using Stablecoins To Distribute Funds To Hud Beneficiaries, Which May First Be Tested In An Office Within The Department And Then Expanded To Other Offices.Two Officials Said They Believe Hud'S Blockchain Experiment May Be A Pilot Project For The Use Of Cryptocurrency And Blockchain Within The Federal Government. A Meeting Last Month Discussed A Project Where The Community Planning And Development Office Would Use Blockchain To Track Funds Provided To A Beneficiary. The Office Is Responsible For Overseeing Billions Of Dollars In Funding To Support Affordable Housing And Homeless Shelters
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