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Briefing
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- Blockchain for Contract Bidding – General Services Administration (GSA) developing prototype for blockchain technology that will replace FASTlane procurement system, which manages vendor contract bids for government IT projects
- Industry Partners – Working with Sapient Consulting and United Solutions on proof-of-concept
- Faster Approvals – Can speed up contract approvals from more than one month to days
- Streamlined Processes – Shortened financial analysis and negotiation processes into single interface where information is put in once, instead of logging in to multiple systems
- Lower Costs – Estimates nearly 80% reduction in direct costs for analyzing proposals
- Feedback – Seeking feedback from internal and external stakeholders regarding new process before moving forward
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Accelerator
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Business Model and Practices
Business Model
and Practices
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Sector
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Government (excluding military), Information Technology
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Organization
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U.S. General Services Administration
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Source
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Thornton, D., "GSA experimenting with blockchain to cut contracting time",
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Higgins, S., "GSA Official: blockchain procurement prototype is moving forward",
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Higgins, S., "US government seeks blockchain solutions for contract bidding system",
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Friedman, S., "GSA looks to blockchain for speeding procurement processes",
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AcceleratingBiz analysis
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Original Publication Date
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November 16, 2017
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