TechFlow news, March 10 — According to Cointelegraph, the U.S. Department of Housing and Urban Development (HUD) is considering an experimental use of blockchain technology and stablecoins for grant monitoring. Based on a meeting recording, documents, and information from three informed officials, the department has discussed using blockchain to monitor grants and is considering testing stablecoin payments to HUD recipients, potentially starting with a pilot in one office before broader rollout.
Two officials said they view HUD’s blockchain experiment as a potential pilot for cryptocurrency and blockchain adoption across the federal government. A project was discussed in a meeting last month that would involve the Office of Community Planning and Development tracking funds provided to one recipient on a blockchain. That office oversees billions of dollars in grants supporting affordable housing and homeless shelters.
However, internal reactions to the plan have been mixed. One participant later wrote that the project's needs were "poorly articulated," and a HUD official criticized the initiative in a staff memo as "risky and inefficient," calling it unnecessary and overly complex, and pointing out that stablecoin payments could introduce volatility. A HUD spokesperson stated: "The department does not have any blockchain or stablecoin plans. Education does not equal implementation."
