Tag Archives: blockchain

Regulating Blockchain’s Promise

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Blockchain is proving to be an enabler of secure and transparent government transactions. As with any technology, as it gains traction it also gains scrutiny. Several laws and regulations have been introduced to ensure that risks associated with blockchain are understood and mitigated.

Recently, the Government Accountability Office issued a recommendation that the Securities and Exchange Commission and other federal financial regulators create a formalized coalition to coordinate the identification and addressing of blockchain-related risks. These risks could include security gaps resulting from old software, phishing schemes, speed of networks, and foreign access to sensitive data. Continue reading →

How Blockchain Unlocks Government Challenges

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Blockchain is best known as the power behind digital currency, but the base technology has so many more applications. At the root of blockchain is its ability to record the transactions of assets. This visibility is key to the digital transformation of government services and operations.

Supply Chain

The most obvious use of blockchain may be in the movement of goods, providing a record of "ownership" of a specific asset and the path it has taken to get to its present location. The digital tracking removes the challenges of moving paperwork (either hard copy or electronic) between organizational boundaries, enabling a digital token to serve that same purpose.

Just because the ledger is "public" does not mean it is not secure. The U.S. Department of Defense is using blockchain to provide a single source of truth for tracking materials. It has proven to optimize processes and reduce costs, enhancing government readiness. Continue reading →

Strengthening Cyber Resilience With Collaboration

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Today's organizations know that stopping 100% of cyber-attacks is not a realistic goal. Rather, the focus has shifted to cyber resilience, "the ability to anticipate, withstand, recover from, and adapt to adverse conditions, stresses, attacks, or compromises on systems that use or are enabled by cyber resources."

A critical pillar in becoming resilient is communication and collaboration. The Cyber EO focused on improving the nation's cybersecurity and highlighted the need to improve collaboration with threat intelligence sharing between public and private organizations as well as the creation of cross-government cyber boards. In recent months, key strides have been made in facilitating information sharing around cyber best practices, resource availability, as well as process and policy. Continue reading →

Breaking Blockchain Free of Cryptocurrency

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Blockchain may be best known for its role in enabling cryptocurrency to be tracked. While the use of cryptocurrency is still in its infancy, blockchain technology is proving to be applicable in a number of non-currency use cases.

Improving Public Transportation

The Federal Transit Administration is looking for ways to use blockchain as a way of "gamifying" decisions around transportation options. A proposed project, "blockchain-enabled transit incentivization," would, via an app, offer tokens to commuters who reserve a parking place or agree to use another mode of transportation. Using real time data about availability of parking, traffic congestion, and more, the app could change the incentives offered - making public transport a more appealing (and lucrative) option for people in transit. Blockchain could support the payment of those who chose incentivized public transit options as well as those who are using parking. The system could also promote equity in access to parking or other resources by factoring in a user's location or personal circumstances. Continue reading →

Blockchain’s Role in Managing COVID

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Blockchain technology is a new way of passing information from point A to point B. The data passes through a "block" that gets validated by a network of unrelated computers, and democratizes the transfer of data. This creates a transparency for the path of the data and makes that path irreversible. It also allows for computational logic to be attached to data, enabling automation around actions associated with it.

 

Organizations across government have been experimenting with ways blockchain technology could make transactions more efficient, secure, and transparent. With the COVID-19 pandemic the ability to easily, securely, and transparently share data has never been more important. In the many areas of our lives affected by the pandemic, blockchain is proving to be a tool for meeting the quickly evolving demands of public health, financial markets, and even democracy itself.

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