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What is blockchain? And, why is it important to government?
Fisk: Think of blockchain as a a New Capability (not just a technology) which allows me to build new Business Networks between semi-trusted entities that want to transact business – driving more trust, accountability, and transparency in the interactions – and resulting in value for all members of the business network.
It is important to government as government entities are likely to both be participating in commercial blockchain as members of the business network as well as bring together the network to solve some of government’s biggest challenges. In the latter scenario – that could be to solve tactical challenges with short term benefits and results and/or for more digital re-invention types of challenges – where the current business process can completely change when the members of the business network are able to interact via blockchain.
What are 2-3 common government segments or functions that would benefit from the introduction and application of blockchain?
Fisk: 1) Government Mission organizations solving a tactical problem involving information sharing between government entities, commercial entities, or a mix of the two. The blockchain can be used to facilitate that data sharing, limit sharing to data needed – what, when, and why, and keep access/log of who accessed what data for what purpose. An example of this is the FDA blockchain project around sharing of data around clinical trials.
2) Government organizations with responsibility of delivering value to those outside the business network – such as to citizens, small businesses, etc. – where the government entity can connect the citizen/small business into the blockchain where it can receive the services needed from other members of the business network. An example of this is the recently announced Digital Trade Consortium in Europe.
3) Any area where a superset of information shared amongst members of the business network allow for better visibility to support a business process. A great example is dispute resolution (see IBM Global Financing use case).