The US Postal Service has released a new report outlining how it could adopt blockchain technology within its operations. The report, released by the Postal Service’s Office of the Inspector General (OIG), suggests that the service should consider using the technology to reinforce its supply chains, create connected device networks or even issue its own digital currency.
Published today to little fanfare, the OIG report posits that in the short-term, the government should devote resources to weighing where applications could be made, arguing that “beginning to experiment with its possible applications could benefit postal operations and customers”.
The report’s authors state: “The Postal Service could benefit from blockchain technology in the short term by studying the technology and possibly experimenting with blockchain-based solutions for financial services. The Postal Service already offers some financial services, including money orders and international money transfers, where blockchain could be an enabling tool, allowing the Postal Service to offer these services more efficiently.” It’s an idea that has drawn attention from similar services in the past. In March, Australian delivery service Australia Post said it was investigating using the technology for digital identity applications.
In a statement, Postal Service chief information security officer and VP of digital solutions Randy Miskanic further suggested that the government hasn’t done much beyond evaluation.
“As highlighted in the report, we will need to be cautious in specific implementations to account for technology barriers, security concerns and regulatory uncertainty,” he said. “We will evaluate the use of blockchain for each of the use cases and further review the available opportunities while considering the impact of the technology and financial restrictions.” A ‘Postcoin’ for global payments
One notable recommendation is the creation of a cryptocurrency for the Postal Service itself.
The cryptocurrency, dubbed ‘Postcoin’, was initially proposed in a 2015 paper by Switzerland-based consultancy […]
