Consensus Update #6 — The State of Blockchain in the US
The U.S. government is at the forefront of change. With blockchain knocking on the doors of the Senate and House of Representatives, significant adoption could be only a few years away. For instance, the Government Blockchain Association (GBA) recently reported that the Senate Committee on Commerce, Science and Transportation introduced “Blockchain Promotion Act of 2019” to the U.S. Senate and House of Representatives floor.
The bill aimed to bring together stakeholders across the federal government and private industry to further develop a greater understanding of the technology. For Consensus, this is excellent news as it proves there is yearning for progress and knowledge from higher levels of government. The developments also encourage governments to keep up with technology. For instance, through Consensus’s tools, leaders can harness blockchain technology to accelerate government decision making, something that has traditionally been a pain point for many government bodies.
Over the last few years, we have seen blockchain maturing. For government and citizens, in particular, relationships are becoming more transparent, secure and private. Developments such as Consensus’s solution in this space bring both parties together to build on trust. In return, society flourishes as the unequivocal decisions are learned faster by rewarding citizens for their valuable feedback. Governments can then take faster action when forming a consensus.
While much of blockchain is in early stages, many governments are rolling out pilot projects, such as in The City of South Burlington, Vermont with the Consensus team.
“The City of South Burlington is very excited about the June 3rd Consensus launch. CEO of Consensus, Oleg Gutsol and I spent a couple of days in Vermont this past week. Out time was spent talking to the City Manager of South Burlington, city counsel, working groups within the city, then travelling to the capital of Vermont, Montpellier, meeting with regulators, senators, and house representatives. The excitement about the project is very real.”
- Dustin Plett, CSO Consensus
Discussions at all levels touched on the elements of the project that are exciting for Vermonters, such as new business arriving in the state, but also the potential of tools such as the Consensus platform that can accelerate decision making at all levels of government.
State officials will be watching the pilot closely with an eye to how a broader statewide roll out could be done if local success is realized.
Following the announcement of our pilot project, there has been some healthy blockchain investment growth predicted in the next four years by the International Data Corporation (IDC). And from this investment, the U.S. will benefit in many ways as research director for IDC Government Insights Shawn P. McCarthy explains:
“We believe asset management, identity management, and smart contracts will be the leading blockchain solutions for government. Early spending will focus on supply chain and asset management solutions, while spending in later years will expand to include more identity management and complex financial transactions.”
While there are many types of blockchain projects already being developed for the applications mentioned, we believe Consensus is different. As a good example, there aren’t many innovations in the U.S. that can build trust through technology and bring governments closer to their citizens.
Now that the City of South Burlington is on board our blockchain innovation will become a reality. Dignitaries from Vermont’s city and state level will join us at the very public launch on June 3rd 2019.
To learn more about the exciting event, ensure you follow our official announcement channels on Telegram and Blockfolio Signals. On another note the Consensus team are conducting a Q&A live stream in the second half of June. So, if you have a question relating to the pilot project then send it to us and we may answer your question during the live Q&A session.
