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IBM sees blockchain as ready for government use

IBM sees blockchain as much more than the foundation for cryptocurrencies like Bitcoin and wants the government to consider embracing it as a way of saving time, cost and risk.

IBM is among a growing number of vendors offering blockchain as a service (BaaS), which allows enterprises to pilot the technology without massive capital expenditures related to onsite development and hardware.

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Blockchain is ‘transformative’ as projects proliferate

IBM fellow Jerry Cuomo told the House Committee on Science, Space and Technology on Wednesday that blockchain is “transformative” and said his company has engaged in more than 400 blockchain projects across a number of industries, including supply chain, financial services, healthcare and government. And while the U.S. is leading the world in blockchain development, he called for more government efforts to promote and deploy the technology itself.

For example, the Congressional Blockchain Caucus, launched in 2016, is working to collect information on blockchain projects that could help individuals securely establish their identity, enable online payments – such as tax payments – and revamp supply chains.

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