Security Is the Key to Growing Fed Blockchain Interest

Lloyd McCoy Jr.

By Lloyd McCoy, Market Intelligence Manager

Blockchain technology is gaining interest from the federal government. This secure, decentralized and interoperable solution can reduce IT security costs – and that checks all the boxes in federal procurement.

Things are moving pretty quickly with federal blockchain adoption, which is significant given how the government can drag its feet on new technologies. Back in July 2017, the GSA held the first U.S. Federal Blockchain Forum to pose uses for the technology from 100 federal managers.

Since then, blockchain requirements have shown up in more solicitations throughout the federal procurement process.

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Blockchain is all the rage and now government is interested

Tom O'KeefeblockchainBy Tom O’Keefe, consultant

Everyone’s piling on blockchain as the hip buzzword of the year. Companies that have inserted blockchain in their name have seen their stock prices rise, and simply mentioning that blockchain is part of your technology can be a surefire way to secure investment from venture capital firms.

And now, the federal government is getting in on blockchain, with a recent NIST draft publication highlighting where and when blockchain could be valuable. And federal agencies are paying attention.

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