Bureau of Fiscal Service launches next phase of blockchain study focused on grant payments
September 23, 2020, 5:06PM EDT
1 min read
The Bureau of Fiscal Service is continuing its study of blockchain technology in a new project, Blockchain for Grant Payments, according to a Monday announcement.
The Bureau first began looking into distributed ledger technology three years ago, when it kicked off a blockchain pilot project to track physical office tools like computers and cell phones. It committed to exploring other use cases for blockchain at the time as well.
The Bureau said Blockchain for Grant Payments is a "continuation of an effort started in 2017," specifically one that looked at how grant recipients could utilize blockchain to tokenize and transact grant payments. The new program will run for six months with a focus on legal implications for grant payments on the blockchain."
Fiscal Service Supervisory Program Manager Craig Fischer said the idea is to cut reporting burdens and enhance transparency in the process.
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