CZ suggests Musk to use blockchain to replace paper checks for government agencies

According to BlockBeats, on February 17th, Musk forwarded data released by the US Department of Efficiency (DOGE) today, stating that "the US Treasury Department processed 116 million paper checks in fiscal year 2024. In fiscal year 2023, $25 billion in tax refunds were delayed or lost due to check returns or expiration. The Treasury Department maintains a physical lockbox network for collecting relevant checks such as tax (e.g. IRS), passports (e.g. State Department), etc., with a processing cost of approximately $2.4 per check. Cancelling paper checks can save at least $750 million annually Binance founder CZ commented on this, stating that blockchain technology can solve such problems.