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The supreme audit establishment of the US, the Authorities Accountability Workplace (GAO), posted two job positions with its Innovation Lab in regards to the improvement of prototype purposes for blockchain expertise throughout March.
Cointelegraph spoke to Chuck Younger, the managing director of public affairs at GAO, to seek out out extra concerning the company’s curiosity in distributed ledger applied sciences, or DLT.
GAO to refine auditing processes for blockchain
Younger acknowledged that GAO’s major utility for blockchain will likely be as “a digital monetary ledger” — indicating that the chief auditor is planning to make use of blockchain to maneuver worth.
GAO has additionally recognized “provide chain logistics and contract administration” as “probably helpful purposes [for] distributed ledger applied sciences.” The adoption of good contracts within the legislative department may streamline many elementary governance processes.
“As a key participant throughout the federal authorities’s oversight neighborhood, we’re very enthusiastic about exploring key options of blockchain applied sciences that improve transparency and safety.”
The company may even use the mission as a chance to strengthen its auditing processes for blockchain transactions, with Younger stating: “GAO might want to take incremental steps to higher perceive the way it may audit blockchain applied sciences when requested to take action by the Congress.”
GAO to interact federal companies with expertise in DLT
Earlier than making use of blockchain to any particular purposes, Younger acknowledged that “GAO will conduct preliminary discovery work” in DLT.
The congressional watchdog will study the present state of blockchain applied sciences, the trajectory of their improvement, and the computational sources required to facilitate scalable deployment of DLT-based techniques.
Moreover, Younger notes that GAO may even have interaction with different federal companies which have prototyped purposes for blockchain with a purpose to focus on the teachings they’ve discovered from their trials.
GAO has been analyzing blockchain since 2013
Whereas GAO’s exploration into blockchain will happen throughout the context of the Innovation Lab of its Expertise Evaluation, and Analytics (STAA) group — which was established in January 2019, the company has performed audit work regarding DLT from as early as 2013.
Wanting ahead, Younger expects that GAO’s “oversight work round blockchain applied sciences” will proceed to develop.
“GAO will consider future plans on blockchain applied sciences as soon as now we have accomplished our preliminary prototyping efforts” he provides.
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