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VA Eyes Blockchain To Simplify Contract Closeouts

Law360 (June 13, 2018, 4:38 PM EDT) -- The U.S. Department of Veterans Affairs is considering using blockchain technology to streamline its contract closing process, according to a recently filed request for industry input on the issue.

The VA is seeking reports on how the decentralized, secure digital ledgers can be "implemented into standard/routine government contract procedures, and in particular, contract close-outs," the department's June 7 request reads. The agency is considering using the relatively new technology, made famous for fueling the rise of digital currencies like bitcoin, to keep track of the various...
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