The Canadian government has launched a trial to explore the use of blockchain technology in making government research grant and funding information more transparent to the public
Bitaccess has announced that the Government of Canada is experimenting with the Ethereum blockchain. The National Research Council of Canada, through its Industrial Research Assistance Program (NRC IRAP) is now using Bitaccess’ latest product, the Catena Blockchain Suite – a set of software services that allows public institutions to publish complex datasets onto a blockchain, such as Ethereum. Through Catena, NRC IRAP is conducting a live trial to explore the use of public blockchains in the transparent administration of government grants and contributions. At this stage, NRC IRAP is using the Ethereum blockchain to proactively publish grants and contribution data in real-time, a measure that complements ongoing quarterly proactive disclosures available through the Open Government website.
On the simplest level, blockchains are public ledgers that records transactions shared among many users. Once data is entered on a blockchain it is secure and unalterable, providing a permanent public record. This technology offers unprecedented levels of transparency and trust, making this ideal for institutions that strive to conduct transparent business. With the Catena Blockchain Suite, public records can be searched, verified and audited at a level the world hasn’t seen before.
Businesses, institutions, charities or other entities interested in how the Catena Blockchain Suite can fit into their business processes can contact email@example.com.