Could government agencies start utilizing blockchain? That may be the case in the US. A provision in the National Defense Authorization Act has worded that capital funds can come from sources including “other innovative platforms and technologies.” This is pretty much the government way of saying capital can be gained through blockchain without specifically stating it. The NDAA has been passed in the legislative branch and is only a signature from President Trump, away from being law. The Senior VP in the Information Technology Industry Council, Trey Hodgkins, said this regarding the matter:
Blockchain was clearly one of the technological capabilities that Congress meant for agencies to look at, and what they were trying to do was create dollars with some flexibility to them so that agencies would have their own discretion on what they invest in.
By passing this act, the ability for blockchain to grow would be exponential. It would also allow the government move away from their current systems which chew up money. The systems in place at this time tie up companies as they are constantly being voted on and there is no certainty of longevity. This bill would change that and allow for agencies to establish a long term plan, possibly with blockchain.
These possibilities don’t come without any obstacles. The question of credibility and if it can be used widespread within a government agency still looms. A major part of this is due to the issues government agencies have associated with the cybersecurity risks of blockchain. In order for an agency to use an “innovative platform” such as blockchain, they must go through a lengthy process. These issues are manageable and if an agency is passionate for blockchain, there is no reason to think it won’t be implemented
