On Valentine’s Day (February 2018) the Subcommittees on Oversight and Research and Technology held a joint hearing
to explore the science of blockchain technology and its potential and emerging applications beyond
cryptocurrency and financial technology. Entitled Beyond Bitcoin: Emerging Applications for Blockchain
Technology, this hearing was hoping that Blockchain technology, also referred to as Distributed Ledger
Technology (DLT), and the Federal government would be a match made in heaven.
Distributed Ledger Technology, powers platforms for secure and decentralized transactions, such as
Bitcoin, Ethereum, and other cryptocurrencies. Data management demands for the Federal government
may be lessened by adoption of blockchains which may be a ble to cut through bureaucratic red tape
without compromising the integrity and security of government data transactions.
It appears as though Uncle Sam is slowly starting to warm up to this technology which may be useful in
areas such as supply chain management, foreign aid delivery, identity management, smart contracts,
and patents to name a few. In order to form a business relationship with the government, enterprising
inventors and businesses should be on the lookout for inventions which provide viable uses of
Distributed Ledger Technology for governmental data management applications.
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