If suddenly the idea is a Mask and Coinbase about transferring $6.9 trillion to the blockchain will become a reality, on what network is this even possible?

We analyze the options

Ethereum (or its fork)

It makes sense, because ether has already become the standard for DeFi.

Positive:
– Well-developed infrastructure, support for smart contracts
– Relative decentralization
– The ability to make data open

Minuses:
– High fees
– Slow transactions
– Centralization through large validators (Lido, Coinbase)

Verdict: they can take it as a basis, but most likely they will heavily modify it.

Private Blockchain on Hyperledger / Quorum

Banks and corporations like this option.

Positive:
– High speed and scalability
– You can set access rights (who sees, who checks)
– Easy to integrate with the banking system

Minuses:
– Full centralized control
– Transactions can be "rolled back" at any time
– No real transparency

Verdict: a very likely option if they want to maintain full control.

Solana, SUI, Aptos and other fast blockchains

It sounds nice, but in practice it is unlikely.

Positive:
– Instant transactions
– Minimal fees
– Good scalability

Cons:
– Centralization (control by funds and large validators)
– Technical failures (Solana is periodically shut down)
– Have not proven their reliability for global systems

Verdict: unlikely, too unstable for the state budget.

Bitcoin-based blockchain (Layer 2?)

If someone says that the United States will launch a state budget on bitcoin, don't believe it.

Positive:
– Maximum security
is a time–tested asset

Minuses:
– Terribly slow L1
– Lightning does not support complex contracts
– The Pentagon is not ready to wait 10 minutes for the transaction to be confirmed

Verdict: almost impossible, BTC is not an accounting system.

Creating a new custom blockchain

The most likely option.

Positive:
– Full control over the system
– Optimized for the needs of the state budget
– It can be disguised as a "transparent blockchain"

Minuses:
– It's just a centralized database with a fancy name
– No one guarantees that the data will be really open.
– Transparency will be "on demand" (i.e. for a select few)

What will they choose?

Most likely, it will be a private blockchain on Hyperledger or a custom fork of ether with private access rights.

But if a fully transparent system appears where you can see where taxpayers' money has gone in one click, then this will be the biggest revolution in financial management in history.

Now the question is: will they do it?