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Federal agencies look to blockchain for its benefits – Cointelegraph

Federal agencies have turned to blockchain for its transparency, efficiency, security and flexibility.

According to FedTech magazine, several federal agencies like the United States Food and Drug Administration, or FDA, and the Treasury Department have started using blockchain.

U.S. Food and Drug Administration officials needed an efficient way to help them track data on the H1N1 swine flu virus that started to spread again in 2017. Of course, Food and Drug officials US administration have found no better way than to embrace blockchain technology.

Henry Francis, associate director of data mining and computer science assessment and research at the FDA’s Center for Drug Evaluation and Research, has already successfully developed a blockchain-based application that automatically allows them to get real-time encrypted data, from many sources.

Francis explained that the RAPID (Real Time Application for Wearable Interactive Devices) program is one of the first full-fledged blockchain implementations within the federal government, but interest in the technology is growing.

Blockchain and management

The Treasury Department’s Office of Financial Innovation and Transformation, or FIT, has also turned to blockchain. Its first app was for tracking mobile devices and its second app was for managing software licenses. The FIT also tested whether the use of blockchain could improve grant payment processes in cooperation with the National Science Foundation.

Early blockchain trials have shown promise, but indicated that FIT needs to learn more about the technology to manage it more effectively and match it with the best use cases, said Craig Fischer, director of the FIT project.

The Department of Health and Human Services (HHS) is also using distributed ledger technology to increase its bulk purchasing power, reduce its reporting burden, reduce costs for industry partners, and improve record keeping. records for supplier transactions.

The FDA is also studying how it can use blockchain to track and manage food security threats in the country’s vast decentralized food system and increase transparency in the pharmaceutical supply chain. And the United States Department of Agriculture (USDA) has already certified BeefChain, a blockchain company that tracks the beef supply chain.

The post Federal agencies look to blockchain for its benefits – Cointelegraph appeared first on USNewsRank.

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