A recent IDC study describes how the Department of Health and Human Services has deployed blockchain technology to monitor acquisitions across the agency, Nextgov reported Friday.
The study was written by IDC Government Insights Research Director Shawn McCarthy and was released in September.
In the study, McCarthy talks about how, under the HHS Accelerate program, the government agency keeps track of procurement activity across the entire organization using a distributed ledger.
McCarthy explains how blockchain technology allows the HHS to maintain a detailed transaction record in real-time, and how it facilitates collaboration, allowing the agency’s different departments to compare transaction information.
McCarthy describes blockchain as “a very powerful tool” but notes that “as with any tool, it must be used in the correct way.”
Unless the technology is properly integrated into an agency’s processes, “the promise of blockchain will not be realized,” McCarthy says.