U.S. Department of State considers Blockchain implementation
The U.S. Deputy Secretary of State, John Sullivan, encouraged the State Department and its private sector partners to adopt the Blockchain technology, during the Blockchain@State forum held on October 14th in Washington, D.C.
In his address to governmental agencies, members of the private sector and non-profits, Sullivan suggested the importance of the integration of blockchain into the restructuring of the department, which aims to save $10 billion over five years.
Secretary of State Rex Tillerson, proposed restructuring, and highlighted the importance of using blockchain technology to enhance internal processes, as well as efficiency gains.
He emphasized the importance of Blockchain’s transformative technology and its ability to address corruption, fraud, as well as inefficiencies within the delivery process when it comes to foreign assistance.
Sullivan commented “It is increasing its footprint in our daily lives every day and is expected to play a major role in trade, business, healthcare management, and finance, and we hope at the State Department as well. We are – we’re – in fact, we are quite confident of that. Through Blockchain we can track movements of goods in the shipping industry; we can verify someone’s ID; we can safely transfer money and payments across borders in real time.”
In addition, he urged the U.S. agency and its stakeholders to consider the deployment of this technology in a diplomatic context to reinforce national security and promote greater economic prosperity. He pointed out how other governmental agencies are working towards better understanding and implementing this technology, naming Dubai, Singapore and Estonia as few examples.