A new report on blockchain applications is viral on many best cryptocurrency news sites. Carried out by the research organization Data Foundation and the IT firm Booz Allen Hamilton, the report shows five proposed questions which should guide the United States federal government on where and how to implement blockchain applications.
Their research was published in a report titled “Bringing Blockchain Into Government: A Path Forward for Creating Effective Federal Blockchain Initiatives” on June 10. As the report notes, blockchain applications and solutions make the most sense when they are applied to some sort of a procedure with a predetermined level of consistency and a low level of agility. Obviously, assuming that the immutable ledger provided by blockchain is valuable for the task in the first place.
The report which spread like wildfire in the coming altcoin news, lists five questions that the United States Federal Government should consider on whether a blockchain solution makes sense. The report says:
“1. Does the blockchain offer a real benefit for information security, trust, or transparency? … 2. Can blockchain be practically and efficiently applied? … 3. What blockchain design is most appropriate? … 4. Is the cost of applying blockchain merited relative to information gains? … 5. Does the application satisfy applicable data sharing and confidentiality laws?”
When coming up with these criteria, the organizations looked at seven instances of blockchain initiatives at the federal level that they deemed successful. In addition to this, the report noted a couple of blockchain-based initiatives across various agencies such as the Food and Drug Administration (FDA), the Department of Health and Human Services, the Department of Treasury and the Department of Defense, among others.
The report also notes that these programs are in varying stages of success and development. According to it, the blockchain applications “will ultimately prove a success in government is yet to be seen. But for now, applying blockchain for government programs and operations should be a welcome development when possible.”
As previously reported on our altcoin news site, the FDA launched a pilot program using blockchain technology as a supply chain tracker for pharmaceuticals in February this year, again proving that there are many advancements coming to the space.
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“We should challenge ourselves with a resolution to make new foundations, moving beyond the scope of protecting our past achievements,” Lee noted, confirming the news that Samsung taps blockchain.As we reported last month in our altcoin news section, the budget smartphones by Samsung will start to include cryptocurrency and blockchain features. Meanwhile, crypto and blockchain functionalities have already been confirmed for the Samsung S10 phone and will be included in other Galaxy smartphone models, too. At the end of April, one anonymous source also claimed that Samsung could eventually develop its own public-private blockchain which will be completed with its own token. This confirms the craze for blockchain technology and innovation that is currently spreading among Asian conglomerates.
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“dOrg asked us to help design a DAO legal wrapper after discovering the potential of BBLLCs. We believe that dOrg is now the first legal entity that directly references blockchain code as its source of governance. Its material operations and ownership interests are managed entirely on-chain.”The dOrg group also noted that the BBLLC registration process should become much easier:
“We want to make what we just did accessible to anyone in the world. Ultimately, the process of configuring and deploying a legally registered DAO will be as easy as creating a social media account.”The ConsenSys-backed ‘’smart legal contracts’’ as previously explained in the coming altcoin news, project OpenLaw proposed a new Ethereum dapp called Incomshare.me which helps students to tokenize income share contracts and to take participation in secondary markets with them. The contracts help the students commit negotiated portions of future salaries. The Incomeshare.me platform uses the ethereum blockchain to host these contracts. OpenLaw community member Josh Ma noted
“As this alternative model for funding higher-education becomes more popular, enabling a secondary market would accelerate its adoption by providing liquidity and opportunities to mitigate risk, both attractive qualities for investors.”
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