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.”

introducing speculative assets into the housing market has caused some problems before.

it’s for corrupt purposes, of course:

The blockchain idea is being pushed, a HUD official told colleagues, by Irving Dennis. Dennis, the agency’s new principal deputy chief financial officer, is a former partner at the global consulting giant EY, also commonly known by its original name, Ernst & Young. EY itself is involved in the proposal as well: An executive of the firm discussed the idea with HUD officials last month.

a followup story: https://www.propublica.org/article/hud-cryptocurrency-blockchain-democrats-maxine-waters

archive link: https://web.archive.org/web/20250329193844/https://www.propublica.org/article/hud-considers-crypto-blockchain-stablecoin-housing-urban-development

  • flowerysong@awful.systemsEnglish
    11·
    8 days ago

    Excuse me, you seem to be lost. This is buttcoin. The sidebar reminds you that our purpose is “hurling ordure at cryptocurrency/blockchain dweebs of all sorts.” And yet you are somehow so lacking in comprehension that you think we have “double standards” because we’re not falling over ourselves to act like your lame-ass pretense that crypto has unexplored potential is a novel idea we’ve never heard of before? LOL. ROFL. LMFAO.