GrantSolutions was one of seven Federal blockchain projects highlighted in the Data Foundation’s new report, “Bringing Blockchain into Government: A Path Forward for Creating Effective Federal Blockchain Initiatives.” The report highlights a range of potential blockchain use cases across government and identifies key factors that federal technology and business leaders should consider when looking at potential blockchain solutions.
“The application of blockchain by GrantSolutions is meant to reduce the application and reporting burden on grant recipients and to reduce data management costs for government agencies,” the report states. Reducing overhead is no small matter in the world of grants. Because of compliance and reporting requirements, grant recipients report spending around 40 percent of their time and energy focused on outdated administrative compliance activities.
GrantSolutions team members took part in the report’s launch event on Monday, June 10th, joining a panel discussion with other innovators from the Department of Treasury and the General Services Administration. The panel highlighted the importance of agencies embracing a culture of sharing, data standardization, and data governance for the success of projects using blockchain technology.
GrantSolutions has been working with emerging blockchain technology to identify new ways to increase transparency on grant investments and reduce grant recipient burden. Blockchain shows real promise in improving data sharing and security both within the grant management domain and beyond, helping managers increase the productivity of limited resources.
At GrantSolutions, we are investing in blockchain for the same reason we are interested in any technology: Because of its potential to help Partners solve problems and better accomplish their missions.
