BGOV: Federal Blockchain Investments Likely to Increase Over Next Two Fiscal Years

The federal government could increase spending on blockhain technology programs through fiscal 2022 as agencies move forward with initiatives in that area, issue open solicitations and implement use cases,  Bloomberg Government reported Wednesday.

BGOV found that blockchain-related government contract obligations grew $1M during FY 2019 and projected  that obligated funds will reach the $7.1M-$15.1M range in the current fiscal year. The report noted that most of the projects are currently in the pilot phase.

In FY 2018, agencies doubled blockchain spending to $13.3M for various applications including financial management and supply chain operations.

Most blockchain investments detailed in BGOV’s report are task-orders and low-value contracts. Entities such as the General Services Administration and the departments of Homeland Security and Health and Human Services have already begun to test blockchain tools, with DHS having eight programs in place.

A 2019 IDC Government Insights report prorjected that agencies would spend more than $123M in blockchain initiatives in 2022.

Check Also

telehealth

VA Seeks RPA-Based Software to Help Manage EHR Backlog

The Department of Veterans Affairs is conducting market research on commercially available robotic process automation technologies that can help streamline clinical document processing functions for electronic health records systems.

Anthony Cristillo SVP MSC

Anthony Cristillo Named Health Info Systems SVP at Dovel’s MSC Subsidiary

Anthony Cristillo, a more than 25-year biomedical research professional, has joined Dovel TechnologiesMedical Science & Computing subsidiary as senior vice president of health information systems.