The U.S. Department of Defense has stated they will begin exploring blockchain technology to determine its usefulness during disaster relief efforts, during a meeting held earlier this month.
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“The potential is absolutely enormous,” said Continuous Process Improvement (CPI) management analyst Elijah Londo.
“Talk about blockchain, and you’ll hear experts comparing it to transforming trust or transactions in the same way the internet changed communication.”
Currently, centralized systems are used by the Defense Logistics Agency (DLA) of to track logistics processes, making it difficult for multiple parties to utilize data and up-to-date information.
By utilizing blockchain technology, the DLA would be able to follow data, refining supply chain transaction processes and in-transit discernibility of deliveries, according to the report.
“This is where I can see where blockchain would have been a big help. Flowing material specifications and tracking data from the manufacturer buying the raw materials to … getting the transportation and getting it on the barges,” said Marko Graham, deputy director of the DLA’s Construction and Equipment unit.
Earlier this month, the Department of Homeland Security stated it was seeking to improve its capacity to thwart the use of false documentation utilizing blockchain technology, awarding grants of up to $800,000 to startups.
In 2017, the U.S. Navy disclosed a proposal to investigate whether blockchain technology could produce additional security to its manufacturing systems.
“We’re researching the technology,” Londo continued.
“We’re getting as smart as we can about what it is, what industry is saying about it, what the future might look like, how it applies to supply chains and how other industries are using it. We’re doing our due diligence.”