Inside the Fiscal Service Bureau’s Office of Financial Innovation and Transformation, or FIT, almost two dozen Treasury Department officials explore emerging and evolving technologies that are still buzzy and on-the-rise today—but could be scaled across the federal government in the not-so-distant future.
The inaugural episode of the seventh season of Nextgov’s Critical Update podcast dives deep into that work, which lately places a sharp focus on artificial intelligence, end-to-end efficiencies and blockchain technology.
“Our blockchain work actually originated back in 2017, when we were considering different technologies that we wanted to look further into, and blockchain has become really a very notable emerging capability,” explained Adam Goldberg, the acting assistant commissioner of FIT, who has been with the office since the very first day it originated, in 2010. “We wanted to look at it because it had a lot of benefits, including greater efficiency, transparency, automation, and resiliency—and so we really wanted to look further into those benefits.”
Goldberg and the team have learned a great deal about the decentralized, digital recording tool since that time. He offered a look into previous blockchain-centered efforts leading up to the team’s present work, which hones in on the technology's potential to track how federal grant payments are distributed out to the right recipients. Deloitte is also supporting the effort.
Among other topics, Goldberg detailed how it could all one day advance the government’s issuance of grant-based funding—and provided a peek into the tech that underpins the project.
“There was no blockchain that I went out and purchased at the local blockchain store. This was a capability that we developed along wi ..
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