GAO: Government Can Benefit From Blockchain, but Challenges RemainÂ
Blockchain technology could “fundamentally change the way government and industry conduct business,” but fraud, money laundering and energy concerns remain, GAO reported Monday. The technology could increase transparency and in turn curb corruption, GAO said. Other opportunities: reduced labor costs,…
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improved data quality and reliability, and wide applicability. Security and blocking outside access are challenges, the government's own watchdog said. It cited lack of regulation and potential for less transparency.