Reports by few IT firms have been served under the authority of US

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blockchain

The research firm Data Foundation and IT firm Booz Allen Hamilton have published a report with five proposed questions to guide the United States national government on where and how to execute block chain initiatives. Their research was published in the report “Bringing Block chain Into Government: A Path Forward for Creating Successful Federal Block chain Initiatives” on June 10. According to the report, block chain solutions make the most sense when applied to some sort of procedure with a predetermined amount of consistency and a low amount of agility, presuming that the immutable ledger provided by blockchain is valuable to the job in the first location. The report lists five questions that they came up with for the way the federal organization can decide whether a blockchain alternative makes sense:

“1.  Is it true that the blockchain offers a real advantage for information security, trust, or transparency?  …

2.  Can block chain be practically and efficiently applied?  …

3.  What block chain design is the most appropriate?  …

4.  Is the price of employing blockchain merited relative to information gains?  …

5.  Does the application satisfy applicable data sharing and confidentiality laws?

“In accordance with these standards, the associations looked at seven cases of blockchain initiatives at the national level that they deemed successful. The report noted many blockchain-based initiatives across different agencies such as the Food and Drug Administration (FDA), the Department of Health and Human Services, the Department of Treasury and the Department of Defence, Amongst Others. The report notes that the programs are in varying stages of succeeding and development.  The investigators conclude that “Whether blockchain will ultimately prove a victory in authorities is yet to be seen.  But for now, applying blockchain for government programs and operations should be a welcome development when potential. “As formerly reported by Coin telegraph, the FDA established a pilot program using blockchain tech for a supply chain and tracker for pharmaceuticals in February.  The Pilot Project Program under the Drug Supply Chain Security Act is especially focused on monitoring preventing and drugs pharm counterfeiting.

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