Blockchain technology is being embraced by companies and governmental agencies all over the world. In the United States, the US Department of the Treasury offered advice to government agencies that may be interested in using blockchain technology. The advice has been made proposition to hep other agencies has been made through a blog post on the webpage of the Bureau of the Fiscal Service (BFS).

US Treasury Advices Governmental Agencies

The post includes several experiences that the different officials experimented in the past while working with a proof of concept blockchain system.

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The BFS advices companies to determine whether blockchain is a good fit for their business strategy or not. It is clear that the technology can help to solve several problems but it is not the solution to all the problems.

The blog post written by the BFS explains:

“Blockchain is a technology that has the potential to solve problems. Developing a deep understanding of the problem you’re trying to solve is an important first step for deciding whether blockchain is the right tool.”

After it, the BFS recommends government agencies to share the project not only with the IT team but also with blockchain sceptics and non-technical people. This would allow to have a better and more robust blockchain application.

“Include both blockchain sceptics and non-technical people. A team comprised of only pro-blockchain people can be blinded by the hype and force a square peg into a round hole. Putting blockchain technology through a gauntlet to see if it reaches the other side is the best thing we can do to understand its usefulness.”

Another advice that the agency is giving is interviewing stakeholders before producing the system. The BFS explains that they spent half of the project trying to analyse possible friction points, reducing costs, time and making it more efficient.

Blockchain Technology for Governments

Other governments around the world are using blockchain in many different fields. For example, the Dutch government is working with an enterprise known as blockchain pilots. The main intention is to take advantage of this technology in different cities.

Among the different projects the City of Eindhoven is developing a blockchain use case for speeding up the process of the land parcel transfers. Rotterdam is developing a blockchain process to collect tourist tax more efficiently.

And in this way, we can mention many more projects in different Dutch cities and agencies. Other enterprises are investing in this technology so as to improve their efficiency, products and services. The United States is trying to advice its agencies with these guidelines presented by the BFS.

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Images Courtesy of Pixabay and WIkipedia

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