How Various Agencies Benefited From Blockchain

It is hard to imagine the modern world without various technologies, and one of them now is blockchain. This technology has the potential to cope with various tasks. For example, the U.S. Food and Drug Administration (FDA), the Department of Health and Human Services (HHS), and the Department of Treasury all use blockchain.

Notably, officials in the FDA needed an effective way to help them track data on the HN1 swine flu virus. Officials in the FDA decided to accomplish this goal by adopting blockchain technology.

Interestingly, an employee of the FDA’s Center for Drug Evaluation and Research already successfully developed a blockchain-based application. People should take into account that the application automatically enables them to obtain encrypted data in real-time, from many sources.

Moreover, the real-time Application for Portable Interactive Devices (RAPID) is one of the first implementations of blockchain for federal government.

Hopefully, the interest in the technology is on the rise and this fact once more underlines the attractiveness of this technology.

Blockchain and the Department of Treasury

As mentioned above, the Department of Treasury is also using blockchain technology. Notably, the Department of Treasury’s Office of Financial Innovation and Transformation (FIT). The purpose of the first application was to track mobile devices. The purpose of the second application was to handle software licenses management.

Moreover, the Department of Health and Human Services (HHS) is also using distributed ledger technology.  For example, it is using this technology to increase its bulk purchasing power as well as to reduce its reporting burden. In addition, the Department of Health and Human Services is utilizing the distributed ledger technology to reduce costs for industry partners and to improve record-keeping for vendor transactions.

Thanks to blockchain technology, it is easier to complete various tasks. Thus, federal agencies should pay more attention to this technology.