Federal agencies are increasingly turning to Bitcoin Circuit technology for its transparency, efficiency, security, and flexibility.
According to FedTech magazine, several federal agencies such as the United States Food and Drug Administration, or FDA, and the Department of the Treasury began using blockchain.
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FDA officials needed an effective way to help them track data about the H1N1 swine flu virus that had started spreading again in 2017. Of course, officials couldn’t find a better way than to adopt blockchain technology.
Henry Francis, associate director of data mining and computer evaluation and research at the FDA’s Center for Drug Evaluation and Research, has already successfully developed a blockchain-based application that allows for automatically encrypted data in real time, from many sources.
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Francis explained that the Real Time Application for Portable Interactive Devices (RAPID) program is one of the first full implementations of blockchain in the federal government, but interest in the technology is growing.
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The Treasury Department’s Office of Financial Innovation and Transformation, or FIT, also used blockchain technology. Its first implementation was to track mobile devices and the second was to manage software licenses. FIT also tested whether the use of blockchain could improve grant payment processes in cooperation with the National Science Foundation.
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Early blockchain trials were promising, but indicated that FIT needed to learn more about the technology to manage it more effectively and combine it with better use cases, said Craig Fischer, FIT project director.
The Department of Health and Human Services (HHS) is also using distributed accounting technology (DLT) to increase its purchasing power, reduce its reporting burden, cut costs for industry partners, and improve record keeping for vendor transactions.
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The FDA is also investigating how it can use blockchain technology to track and manage food safety threats throughout the nation’s vast, decentralized food system and increase transparency in the pharmaceutical supply chain. The United States Department of Agriculture (USDA) has already certified BeefChain, a blockchain company that tracks the meat supply chain.