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The US Treasury continues to test the blockchain technology

A government official involved in the US Treasury’s investigation of distributed ledgers, is insisting on further testing the technology.

31.Oct.17 4:54 AM
By Daria Zaytseva


The US Treasury continues to test the blockchain technology

In an article published in the Journal of the Federal Financial Management this week, Craig Fischer, who is the program manager for the Office of Financial Innovation and Transformation (FIT), part of the Treasury's Bureau of the Fiscal Service, offered a broad view that its potential application could lead to success in the exchange of data and information.

According to Fischer, before the government, which pursues a number of options for use in a number of federal departments and agencies, can get there, more tests are needed. Elsewhere, he continued to cover the efforts of the working group of blockchain in the Association of Government Accountants, which includes representatives of governments, enterprises and industry startups.

Earlier this month, the US Treasury quietly showed that it is testing blockchain to find out how it could track the movement of physical assets, such as smartphones and computers, digitally.

At that time, the Bureau, which is responsible for processing inter-departmental payments, as well as borrowing funds on behalf of the government, said that it also would explore other uses cases.

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