- Voluntary and distributed electronic participants … check.
- Transfer of some sort of high value assets, ownership, or monetary units … check.
- A process intensive flow of data (back and forth) that must have an audit trail … check.
- Encryption desired… check.
- Identity of participants matters to the transaction…check.
- Eventual placement of contractual award of some sort with deliverables fully tracked through a detailed life cycle… check.
Yes… this is a fantastic use case. In fact, Cogent Law Group, as a member of GBA will be leading our working group that tackles this topic.
For a full discussion on this, browse here:
If you’d enjoy getting involved (i.e., contribute to the working group), please message [email protected]
Question: what are the top criteria for a blockchain implementation—or smart contact that could serve the contracting officers in a governmental organization? Please comment below.