Blockchain sure does offer many advantages including security, efficiency, flexibility and transparency. This has attracted the federal agencies towards its adoption.
The U.S. Food and Drug Administration (FDA) has found to be using blockchain. Various executives in the US FDA were striving to find a way effective in terms of assisting them to analyze and track data on the H1N1 swine flu virus that again began to spread in 2017. It seems that the Food and Drug Administration found the adoption of blockchain technology as one of the best strategies to move forward. The Department of Treasury was also reported to make use of blockchain technology.
The Associate Director of Data Mining and informatics evaluation and research named Henry Francis and FDA’s department for Drug Evaluation and Research had developed an application based on blockchain that allows them to acquire encrypted data in real-time from multiple sources. It was elaborated that the real-time application for portable interactive devices (RAPID) program is regarded as one of the first prominent implementations of blockchain in the federal government.
Management and Blockchain
The Office of Financial Innovation and Transformation (FIT) od the Department of Treasury also inclined towards blockchain. The two of its known applications were related to software licenses management and the other related to tracking of mobile devices. FIT was also reported testing blockchain for improvisation in the grant payment processes in association with the National Science Foundation.
Also, the distributed ledger technology is being used by the Department of Health and Human Services (HHS) to increase its bulk purchasing potential, lower the reporting burden, reduce costs for industry partners and enhance record-keeping for vendor transactions.
The FDA is also inspecting how they could employ blockchain to track and manage threats to food safety across the country’s broad and decentralized food system and ensure transparency in the pharmaceutical supply chain. BeefChain is another blockchain firm that traces the supply chain of beef and is certified by the U.S. Department of Agriculture.
Post originally available at Federal Agencies lean towards Blockchain for its merits
