PANews reported on February 17 that Changpeng Zhao (CZ) seemed to suggest to Elon Musk that blockchain technology be used to replace traditional paper bills. The background of this discussion is that the U.S. Treasury processed 116 million paper checks in fiscal year 2024, and in fiscal year 2023, $25 billion in tax refunds were delayed or lost due to lost or expired checks. The Treasury Department also maintains a network of physical lockboxes for collecting checks related to taxes (such as the IRS) and passports (such as the State Department), with each check costing approximately $2.4. Canceling paper checks can save at least $750 million a year.