Several US government agencies have been evaluating the Blockchain technology and also implementing to improve efficiency, transparency and trust in sharing the information in supply chain management, IT assets, procurement, financial management, appropriated funds, Royalties, Trademarks copyrights, patents, foreign aid delivery, federal assistance, and government issues credentials such as birth certificates, Passports, Visas and SSNs. It is part of the government’s efforts to  digital transformation.

The blockchain and cryptocurrencies are taking a center stage at the world’s economic forum being held in Davos this year.

The Federal Agencies and US Businesses to Benefit from Federal Blockchain Program

The Emerging Citizen Technology office of the General Services Administration (GSA) has unveiled the US Federal Blockchain Program for the US businesses and Federal Agencies. The Blockchain program has been used to expedite and automate the contracts review in the Fast Lane Program.

The Treasury Department Implements a Pilot Program for Blockchain Technology Program

The Department of Treasury has implemented a pilot project to check the feasibility of blockchain technology program in supply chain management. Mr. Steven Mnuchin, the treasury secretary, who is on the Blockchain panel in Davos, is of the view that private and public partnership along with foreign funds participation will help to fulfill the dream of upgrading airports, bridges, and roads in the US without spending additional debt. It also promotes growth of the economy while shifting the risk to the private sector. The entire role of this key decision is entrusted to a government agency to identify a project that generates sufficient revenue.

The US State Department Encourages Private partnership to Utilize Blockchain Technology

The US state department urges the players to initiate a dialogue with private entrepreneurs, who are currently utilizing the blockchain technology, to promote economy development worldwide. The state department is a strong advocator of  private public partnership to utilize the blockchain technology and ensure transparency to address misappropriation of funds, fraud or corruption and inefficiencies in the public procurement process.

The US Defense Department Explores Ways to Utilize Blockchain Technology

The US Department of Defense is studying the possibility of blockchain technology after identifying the risks posed by the distributed ledger technology.

NASA and the department of homeland security are also studying ways to utilize the blockchain technology for efficient computing techniques and communication systems.