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US Treasury Officials for more detailed study of the blockchain


One of the government officials involved in the study of distributed registry technology, initiated by the US Treasury, insists on a deeper testing of the blockchain technology. In an article published this week in the Journal of Federal Financial Management, Craig Fischer, the head of the project group for the management of financial innovation and transformation (FIT) of the Treasury Department of the Ministry of Finance, proposed to investigate in more detail the technology of the distributed registry. He noted that the possibilities of its application will help improve the exchange of data and information.

According to Fischer, in order to achieve this, the government must initiate a new series of tests. He also spoke about the efforts of the working group of the detachment within the framework of the work of the Association of Public Accountants, which includes representatives of the government, enterprises and industry start-ups.

He wrote:
"In order to fully understand how distributed registry technology will affect our society, we must begin developing appropriate use cases, proof of concept and pilot projects. Testing is only the first step. "
Earlier this month, the US Treasury announced blockchain testing to track the movement of physical assets, such as smartphones and computers. Then representatives of the Bureau for the Management of Financial Innovations and Transformations, which is responsible for processing inter-departmental payments, as well as borrowing funds on behalf of the government, noted that they will explore other possibilities for applying the technology.

Earlier this month, the US Treasury quietly revealed that it is testing blockchain to see how it can digitally trace the movement of physical assets, such as smartphones and computers.

At the time, the Bureau – which is responsible for handling interagency payments as well as borrowing funds on behalf of the government – said that it would explore other uses cases as well.

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