USAID may use blockchain technology to track the flow of funds and improve transparency

According to The Block on March 21, the United States Agency for International Development (USAID) may adopt blockchain technology to track fund flows as part of a more transparent procurement process. This proposal, put forward by Trump administration officials, aims to reform and rebrand the agency. A document obtained by Politico and reportedly circulating at the State Department states that in the section on creating a "modernized, performance-based procurement" process, "all fund allocations will be securely stored and tracked through blockchain technology to significantly enhance security, transparency, and traceability." However, it is currently unclear how exactly the system will operate or which type of blockchain technology will be used—whether public, private, or hybrid.