David Zaharchuk, global industry research leader at IBM’s Institute for Business, has said the adoption of blockchain technology could help government agencies facilitate contract management, regulatory compliance, citizen services and identity management.
Zaharchuk wrote in a blog post published Monday that blockchain platforms work to ensure security of data sharing operations between organizations and individuals.
Blockchains could help agencies track the performance of vendors and eliminate the need for third-party intermediaries to verify transactions, he said.
Zaharchuk noted that the Department of Homeland Security and U.S. Postal Service have begun research on how blockchains can help ensure security in identity management operations.
He also discussed a survey of 200 government executives in 16 countries as part of a study by IBM and Economist Intelligence Unit on blockchain implementation.
The study showed that 14 percent of the respondents said they plan to deploy blockchain technologies in 2017 and that nine in 10 government leaders intend to invest in blockchain systems by 2018 for use in contract and asset management, regulatory compliance and administration of financial transactions.