Blockchain is a complex technology that aims to streamline repetitive, data-intensive tasks. It has become more than a hot buzzword in government IT circles, it is already being put into practice.
One way to think of blockchain is as a database that is jointly managed by a distributed set of participants. Adding data requires the "sign off" of everyone in the chain, verifying that the transaction is legitimate. Because of this interconnectedness, it is inherently secure. Every piece is linked to another, changing one piece will impact the rest of the chain (just like that one bulb going out on your Christmas lights) alerting all owners to an issue.
Government agencies are drawn to the security and transparency provided by blockchain to improve the efficiency and stability of processes requiring strict audit trails. NIST has provided guidance to help educate as well as encourage organizations to begin trying out blockchain approaches. Continue reading