While the US government is starkly opposing the usage of Bitcoin, the usage of blockchain technology is a different matter altogether. All over the world, authorities are recognizing the importance of blockchain technology. In a recent development, there is a provision in one of the pending bills which would encourage the US government agencies to use the blockchain technology. The bill known as National Defense Authorization Act (NDAA) has a provision called the Modernizing Government Technology Act (MGTA).
The MGTA governs the capital spending of various US departments to upgrade IT systems. It allows the various US government departments to use the funds for cybersecurity improvement as well as migrating the current systems to cloud and also to other innovative platforms.
However, while blockchain is not explicitly mentioned in this bill, the term “other innovative platforms” includes blockchain as well.
According to Trey Hodgkins, Information Technology Industry Council Senior Vice President of Public Sector, blockchain is one of the most innovative technologies currently which the agencies can certainly look into in order to gain some durability as well as reduce costs.
According to experts, this bill would provide plenty of leeway to the different US departments to invest in blockchain technology in order to migrate from the legacy systems to blockchain based systems which would significantly increase the efficiency of the systems and reduce cost as well. It remains to be seen how many US departments actually experiment with the blockchain technology after the bill is approved.
Traditionally, however, the US government departments have been pretty slow in adopting new technology. That is why, even though most of the cryptocurrency enthusiasts are interpreting the bill as a way to open up the cryptocurrency space as well as blockchain space to the government, it would be very difficult for them to initiate the migration to blockchain technology. However, over a period of time, at least some of the departments would be switching over to blockchain technology as they see its potential and accordingly start utilizing it for the processing of the data. Moreover, the increase in security would prompt more departments to join the list as well.
For now, however, cryptocurrency enthusiasts, as well as blockchain enthusiasts, are keeping their fingers crossed that at least some of the US government departments would certainly invest in blockchain technology in order to make use of the high efficiency as well as security which is provided by this technology.