New Report “Bringing Blockchain Into Government” Aims to Assist Federal Government with DLT Apps

Since 2016, the US Government has been testing out a number of different blockchain based administrative tools so as to streamline its internal work processes. For example the US Department of Treasury and the Department of Defense both make use of this burgeoning technology so as to oversee their day-to-day operational activities.

  • The research piece in question lists out a total of five key questions that should be used by any federal organization before it starts to make use of a blockchain-enabled technology.
  • Some of these questions include “Does the platform offer a real benefit for information security, trust, or transparency?”, “Can blockchain be practically and efficiently applied?”

Can Blockchain-Powered Apps Improve Routine Government Procedures?

According to a recently published report, the Data Foundation and IT firm ‘Booz Allen Hamilton’ have put forth a number of guidelines in order to help the US Federal government implement various blockchain initiatives within its existing digital framework.

The research piece titled “Bringing Blockchain Into Government: A Path Forward for Creating Effective Federal Blockchain Initiatives” seeks to chart out a POA that will allow immutable ledgers to be used within existing government agencies that follow a “set procedure with a predetermined level of consistency and a low level of agility”.

To formulate the aforementioned report, the researchers have taken into consideration a number of instances where blockchain initiatives at the federal level have worked successfully.

During the course of their studies, the Data Foundation discovered that government agencies such as the Food and Drug Administration (FDA), the Department of Health and Human Services are currently making use of blockchain-based governance platforms in a successful manner.

Streamlining Internal Work Procedures with Distributed Ledger Technology (DLT)

The study does not conclusively state whether or not blockchain tech. can be used within federal governance structures for long periods of time.

Last but not least, it is worth pointing out that the FDA recently introduced a “pilot program” through which it sought to deploy a blockchain-based tracking platform for its supply-chain ecosystem.

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Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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