US Treasury Official: More Blockchain Use Cases Needed

An official from the U.S. Treasury has written an optimistic article on the blockchain, calling for more relevant use cases, proofs of concepts and pilot projects with the technology.

Craig Fischer, who serves as program manager for the Office of Financial Innovation and Transformation (FIT) within the Treasury’s Bureau of the Fiscal Service, wrote an article in the Journal of Government Financial Management [PDF].

In his article Fischer writes about the potential that the blockchain can deliver, its ability to eliminate the ‘middle man’ and how it effectively reduces the amount of time and money it takes to process electronic transactions.

He said:

The magic primarily resides in the technology’s innovative way of validating transactions and achieving network consensus.

He adds that the technology is gaining a lot of interest because it can help to reduce fraud and error while enhancing security at the same time…

Read Full: US Treasury Official: More Blockchain Use Cases Needed