Blockchain may be best known as the purveyor of bitcoin, but federal managers increasingly are turning to the distributed ledger technology for efficient and secure solutions across a variety of operations and government programs.
Blockchain operates as a continuously growing list of records (blocks) that are linked and secured using cryptography. The blockchain creates a distributed ledger that is managed in a decentralized, peer-to-peer way. Because the blocks are permanent and unalterable, the technology is considered highly secure.
With possibilities in cryptocurrency and beyond, the General Services Administration has created a pilot program to explore blockchain’s uses in the federal government. Federal agencies are looking to blockchain technology for solutions in everything from financial and contract management to procurement and medical records-keeping to maintaining federal personnel workforce data.
As with other great technological breakthroughs, industry analysts warn against dismissing blockchain as hype. Research firm Forrester said blockchain “will be a critical economic and market capability,” and its counterpart, Gartner, said the technology “offers the potential for substantial change.”
This workshop brings together government and industry leaders to discuss how blockchain technology fits into federal government operations.
Potential topics to be addressed include:
- The scope of blockchain solutions and how they can be applied to various agencies
- The potential ROI of using blockchain
- Possible risks/challenges (and mitigation strategies) with blockchain
- How to secure data in blockchain
- The best management practices of blockchain
- How blockchain works with other distributive technologies like IoT
- Is blockchain a long-term solution, or a short-term fix?