UK Exploring Potential Uses of Blockchain Technology to Transform Government Systems
Today Minister for Cabinet Office Matt Hancock gave a speech highlighting the possibility of the UK government utilising the potential of blockchain technology to transform the way government works. Speaking earlier at Digital Catapult in London, Hancock drew parallels older technology enabling an improvement to efficiency and reliability, as well as noting missed opportunities when new technology had failed to be exploited.
Using the development of the typewriter and its ability to create a carbon copy of a document as an example, Hancock pointed out the benefits of having multiple copies of the same piece of data in helping to prevent fraud, with distributed documents decreasing the chance of any tampering going unnoticed and unchallenged. Whilst this was very basic security, the degree of trust that blockchain technology would bring, using the principle of a distributed ledger, would allow for parties to work with confidence in the data.
Hancock explained: “It’s about changing the business model. Not just about doing the old things in new ways, but changing how we deliver for our customers: the citizens of this country. And part of that story is about using new technology to build and foster a new culture of trust. Within government and further afield.”