U.S. Department of Veterans Affairs adopts blockchain technology

    2018/06/12 15:28 Joey huang Created with Sketch.

The Department of Veterans Affairs is currently researching how to utilize blockchain technology to improve work efficiency taking particular interest in dealing with contracts.


It is reported that the U.S. Department of Veterans Affairs has issued an information request and hopes that people will be able to put forward their knowledge and opinions on how to use the blockchain solution in a conventional government contract process, especially with contract clearance work. In recent years, blockchain technology has been a hot topic and has attracted the attention of all walks of life, including the US government. Many organizations are reviewing how to employ distributed ledger technology to verify, optimize and enhance their own business operations.

The Department of Veterans Affairs is also seeking industry solutions to help them integrate contract information and verify the various sources of information with unresolved claims and disputes. The Department of Veterans Affairs stated:

"We have invested a lot of resources in a lot of repetitive work. Blockchain technology can ease the labor burden on government contracts."

The contractor will need to provide a proof of concept to confirm whether the blockchain technology can handle the current contract settlement procedures of the U.S. Department of Veterans Affairs, which includes tracking all pending contract work and more.

Veterans Affairs officials are expected to demonstrate the effectiveness of the blockchain technology over the next six months. If the contractor can propose a feasible solution, it will be confirmed by the Department of Veterans Affairs at the end of July.

    Adapted from: CoinTime Author: Nino Executive editor: Nino
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