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The US Treasury Department has published a blog post offering advice to other organizations government interested in the adoption of blockchain or distributed. ledger technology (DLT) in their internal systems.
The post, which was drafted by the Office of the Treasury Fiscal Service (BFS), includes several lessons that officials have gleaned from the experimentation of a proof-of-concept blockchain system.
Reflecting on the lawsuit, the BFS advised agencies to get through the hype surrounding blockchain technology and honestly consider whether a distributed ledger would add value to their operations. Such systems, the office writes, are very useful for departments in which central control is expensive (such as when staff have to manually check transactions) and total trust between different parts of the ecosystem is insufficient.
The bureau also recommended that departments endow their projects with DLT skeptics and non-technical people to put the proposed system "under siege" to determine if it is really useful.
"Include both blockchain skeptics and non-techies.A team made up solely of pro-blockchain people can be blinded by the hype and force a square peg into a round hole. blockchain through a glove to see if it reaches the other side is the best thing we can do to understand its usefulness. "
Similarly, the position advised developers to spend a lot of time interviewing stakeholders rather than engaging directly in the production of the system. The BFS said its team has spent nearly half of the project analyzing their processes to discover friction points that make their current systems expensive, time consuming and inefficient.
As reported by CCN, the Treasury Blockchain pilot program kicked off in October and aimed to use DLT-based systems to track physical assets such as computers and smartphones, and those responsible for it. agency praised the technology's ability to reduce fraud.
Although it is not directly related, the Treasury's financial crime division was charged with implementing President Trump's recent decree banning US citizens and residents from engaging in the "Petro", cryptocurrency backed by the state. This seems to be the first time that a president has officially ordered a government agency to take action regarding a technology related to the blockchain.
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