U.S. Housing Agency Considers Launching Crypto Experiment

[JayDubya]

The Department of Housing and Urban Development, which oversees billions in aid and insures more than a trillion dollars in mortgages, is pondering using the blockchain and a stablecoin. One HUD official derided it as “monopoly money.”

U.S. Housing Agency Considers Launching Crypto Experiment

The Department of Housing and Urban Development, which oversees billions in aid and insures more than a trillion dollars in mortgages, is pondering using the blockchain and a stablecoin. One HUD official derided it as “monopoly money.”

www.propublica.org

 

[pmbug]

A lot of people hear "crypto" and have strong emotional reaction. That article never explained what exactly was being discussed/proposed/explored and read like fearmongering to me.

A blockchain could be used to provide a transparent and immutable record for tokenized asset (like mortgages) ownership. This use case has nothing to do with any particular speculative cryptocurrency. This kind of thing, if developed, could even be used to provide clear records for the gold in Ft. Knox, for example (including all encumbrances).

It would be interesting to understand what exactly they were discussing.