U.S. government’s General Services Administration (GSA) developing blockchain platform that will streamline contract reviewing process for IT projects

Briefing

U.S. government’s General Services Administration (GSA) developing blockchain platform that will streamline contract reviewing process for IT projects

November 20, 2017

Briefing

  • 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

Accelerator

Business Model and Practices

Business Model
and Practices

Sector

Government (excluding military), Information Technology

Organization

U.S. General Services Administration

Source

Original Publication Date

November 16, 2017

Leave a comment