As I see businesses buying, selling, swapping, etc. cryptocurrencies in business-to-business transactions, I cannot help thinking that this will lead to government-to-business cryptocurrency transactions. If this should occur, then it seems inevitable that government-to-government cryptocurrency transactions will occur.
Imagine the Department of Defense being given a set amount of cryptocurrency appropriations per annum by congress. From this sum the Department of Defense ("DoD") would have to pay its payroll, its DARPA expenditures, its heavy machinery of war, such as ships, tanks, planes, etc. All of this would have to done with the Pentagon aware that its use of appropriations would be transparent on the blockchain.
No longer would trillions of dollars vanish with no one knowing where it went.
The same government-to-government & government-to-business relationships based on cryptocurrencies in other fields of service and/or operation would obtain.
I believe that the Department of the Treasury would be the correct channel for developing a national cryptocurrency based on a newly created interest-free, legal-tender U.S. Treasury Dollar, which would be interchangeable with it. Slowly, this system would replace the Federal Reserve System. The Fed might be retained to sell & receive government bonds, whether national or foreign, but it would have no other function. It would have to be annually audited by the federal government.
A system of national bank branches would be created under the Treasury Department. No savings accounts would be offered -- only checking accounts. All such accounts would be guaranteed regardless of amounts. Checking accounts could receive either U.S. Treasury Dollars or cryptocurrencies (national or private). They would be similar to wallets.
The idea of transparency in money matters of government seems very positive to the ordinary citizen.
