Blockchain: HUD’s New Best Friend? 🏠💰

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In a move that’s as unexpected as a cat taking up knitting, the US Department of Housing and Urban Development (HUD) is mulling over the idea of using blockchain to keep an eye on grant spending.

And if that wasn’t wild enough, they’re also toying with the notion of stablecoins—because why not throw another crypto-log onto the fire? This, of course, has sparked a debate hotter than a sauna in the Sahara.

Blockchain and HUD: A Recipe for Disaster or a New Hope?

ProPublica, the news outfit that’s never afraid to throw a wrench in the works, reports that HUD is eyeing blockchain, the tech behind cryptocurrencies, to beef up its grant fund oversight.

Enter Irving Dennis, the Deputy Chief Financial Officer at HUD, who’s pushing this crypto-quest. This guy, who used to be a bigwig at EY, thinks blockchain could be the silver bullet to fix the historically messy and wasteful grant monitoring process.

And so, in true governmental fashion, they’ve had not one, but two meetings about it. Staff from the CFO’s office and the CPD (Community Planning and Development) gathered ’round the table to hash it out.

During these chinwags, the CPD folks tossed around the idea of a “proof of concept” pilot. You know, just to see if blockchain can actually do the job of tracking funds without falling flat on its digital face.

“We might learn something from this, especially if the feds decide to jump on the stablecoin bandwagon,” one meeting-goer mused.

But not everyone’s doing backflips. One HUD employee voiced concerns, basically saying, “Hey, remember 2008 and 2009? Let’s not do that again.” Another official compared crypto to “Monopoly money,” which, let’s be real, is only good for buying Boardwalk.

D.O.G.E. Pokes Holes in HUD’s Financial Ship

Just when you thought it couldn’t get more exciting, the Department of Government Efficiency (D.O.G.E.) jumps in, shining a spotlight on HUD’s financial snafus. They’re like the kid who points out the emperor’s new clothes aren’t exactly there.

“HUD did a software audit and boy, was it a doozy. They had enough ServiceNow licenses to open a tech support call center, but were only using a handful. Acrobat licenses? Zero users. It’s like buying a lifetime supply of kale and then eating cake,” D.O.G.E. reported.

HUD’s official mouthpiece piped up, promising to review every penny and work with D.O.G.E. to plug the leaks. Because, you know, taxpayer money shouldn’t be thrown around like confetti.

As for any blockchain trials, HUD’s lips are sealed tighter than a drum. No announcements, no hints, nothing. Stay tuned, folks.

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2025-03-10 14:03