Blockchain is likely to gain traction in the federal government in the next fiscal year as agencies seek offers for contracts related to the distributed ledger technology, Bloomberg Government reported Thursday.
The Office of Personnel Management, Food and Drug Administration and the U.S. Postal Service are among the agencies that have issued solicitations for contracts that consider blockchain as a supplementary or primary requirement to enhance processes.
BGOV said agencies have spent $8.4 million on blockchain-related contracts since fiscal 2015 and some of the vendors that have secured government work in this field include Chainalysis, BlockCypher, United Solutions and Digital Bazaar.
The report noted that the departments of State, Homeland Security and Treasury have launched pilot programs to assess blockchain's potential use in asset management, anti-human trafficking efforts and supply chain management.