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cryptocurrency June 13, 2018

In a bid to alleviate some of the work involved in closing out contracts, the Department of Veteran Affairs is requesting information about blockchain technology.

On June 7, the US Department of Veteran Affairs (VA) issued a request for information (RFI) regarding how blockchain technology could be used to simplify and streamline the department’s contract procedures, specifically when contracts are closed out. The RFI specifies that it was “issued solely for information and planning purposes – it does not constitute a Request for Proposal (RFP) or a promise to issue an RFP in the future.”

According to the Performance Work Statement (PWS) released alongside the RFI, the close-out process currently requires many repetitive steps to gather and verify pre-existing documented information, and the VA believes that blockchain technology may be a means to alleviate almost all of the labor currently required.

The PWS states that if the VA determines blockchain to be a cost-effective and transparent solution, a proof of concept (PoC) will need to be developed. Upon completion of the PoC, the VA would issue a report laying out how blockchain technology could be utilized, a timeline, and a life-cycle cost analysis.

The document goes on to say:

“If Blockchain technology presents itself as a viable solution, in terms of cost effectiveness, speed, and enhanced precision relative to Government contract close-outs, the Government anticipates a follow-on contract to a vendor who has the demonstrated technological expertise and experience to implement Blockchain technologies into current Department of Veterans Affairs (“VA”) processes and its various software applications.”

This is not the first time the VA has looked to blockchain technology to help improve its service to US veterans. In January, the VA sought proposals on how to improve health data sharing and interoperability through blockchain technology. 

Nathan Graham is a full-time staff writer for ETHNews. He lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

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Source: ETHNews