In his report, Sir Mark Walport explains how blockchain can help government collect taxes, issue passports, deliver benefits and "ensure the integrity of government records and services".
For those who do not know, the blockchain can act as a permanent record for all sorts of transactions, which allows for better data managing, and added security, as the system is thoroughly resistant to all sorts of attempted tampering.
"Ultimately the best way to develop a technology is to use it in practice", says the report, and it recommends that government establishes trials of distributed ledgers "to assess the technology's usability in the public sector".
Minister for Culture and the Digital Economy, Ed Vaizey, said: "Government wants to make sure the United Kingdom is at the forefront of using emerging technology to improve public services".
This chain of record came to be known as the blockchain.
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"A large number of welfare claimants are un- or under-banked and face barriers to greater financial inclusion such as credit checks, access to traditional financial products, and the costs of unauthorised transactions"
,the report said. However, with one successful test completed and more on the way, distributed ledger technology appears to be a valuable consideration in the future of globalized banking and finance.
read more http://leadercall.com/2016/01/distributed-ledgers-could-transform-public-services-says/