This week the Bureau of the Fiscal Service, a division of the U.S. Treasury, announced a project to use blockchain for grants to improve transparency. It’s an extension of an existing project which was initiated in 2017.
“By tokenizing relevant grant award information and combining it with grant payment information on the blockchain, we gain a new payment transparency that we couldn’t reach previously without significant and burdensome reporting,” said Craig Fischer, Fiscal Service Supervisory Program Manager.
The project is run with the Office of Financial Innovation and Transformation (FIT) and is supported by Deloitte.
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