Blockchain Could Reduce Waste, Save US State Department Billions
US Deputy Secretary of State John Sullivan thinks that Blockchain could save the government $10 bln over the next five years.
US Deputy Secretary of State John Sullivan is encouraging the Department and its partners in the private sector to seriously study the possible integration of Blockchain technology into the agency’s operations. He proposed that the technology should be used to advance the agency’s diplomacy and development objectives.
Sullivan gave his speech before members of other government agencies, private sector, and non-governmental organizations at the Blockchain@State forum in Washington, D.C. on Oct. 10. He even suggested that the technology could become part of the major department overhaul being proposed by Secretary of State Rex Tillerson.
This restructuring aims to save up to $10 bln over five years.
"This forum has implications for our ongoing redesign efforts. We're interested to learn whether Blockchain technology can have direct applications to many of the key features of our proposed redesign."
Sullivan also urged the State Department and its stakeholders to work hard in finding ways to use the technology in a diplomatic context to bolster national security and promote greater economic prosperity.
Representatives from various organization including USAID, UNDP, AID:Tech, BanQu, ConsenSys, IBM, Microsoft, Bitfury, Booz Allen Hamilton, Pricewaterhouse Coopers were present during the forum to present examples of Blockchain’s use.