The UK government view on distributed ledger technology

error08

hero member

Activity: 1036

Merit: 514

Quote from: mobnepal on December 08, 2016, 08:01:19 AM

As we all know government never gonna accept bitcoin rather they will just use blockchain tech behind bitcoin. And in the report found example about how they gonna use blockchain tech to have 24x7 service.

Quote

Distributed ledger technologies have the potential to help governments to
collect taxes, deliver benefits, issue passports, record land registries, assure the
supply chain of goods and generally ensure the integrity of government records
and services.

They seem just interested in distributed ledger tech using blockchain not in bitcoin.

Quote

But this report is not about Bitcoin. It is about the algorithmic technologies
that enable Bitcoin and their power to transform ledgers as tools to record,
enable and secure an enormous range of transactions.

Blockchain technology implementation on government, well I think there are some advantages such as enable payment in various sections/services and disadvantages for user as they could know easily all of your transaction, instantly tax collection behind the project I guess.

MingLee

hero member

Activity: 490

Merit: 520

Quote from: Jet Cash on December 08, 2016, 03:05:50 AM

I've started reading this government paper on distributed ledger technology. It's fairly meaty, and I'm not even half way through it, but I thought it was interesting. It could give some insights into future planning and products in the UK - Royal Mint Gold for example.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/492972/gs-16-1-distributed-ledger-technology.pdf

I think that the Royal Mint's idea of a practical use of blockchain technology is actually a really good way that it can be applied in real life, especially considering their concept of using the blockchain to trade fractions of gold through a ledger.

I wonder how much more they're going to apply it, but based on what we've seen so far it is probably going to be used a lot more and in more advanced applications as time goes on. I'm kind of hyped for all of that to be honest.

shinratensei_

legendary

Activity: 3374

Merit: 1035

Leading Crypto Sports Betting & Casino Platform

Quote from: mobnepal on December 08, 2016, 08:01:19 AM

As we all know government never gonna accept bitcoin rather they will just use blockchain tech behind bitcoin. And in the report found example about how they gonna use blockchain tech to have 24x7 service.

Quote

Distributed ledger technologies have the potential to help governments to
collect taxes, deliver benefits, issue passports, record land registries, assure the
supply chain of goods and generally ensure the integrity of government records
and services.

They seem just interested in distributed ledger tech using blockchain not in bitcoin.

Quote

But this report is not about Bitcoin. It is about the algorithmic technologies
that enable Bitcoin and their power to transform ledgers as tools to record,
enable and secure an enormous range of transactions.

I don't think if the statement about Blockchain doesn't work without bitcoin is true, Will the blockchain be a threat for bitcoin? Give the authority to those people.

GreenLighter

jr. member

Activity: 36

Merit: 2

The UK has more important things to worry about right now, in my opinion

sportis

sr. member

Activity: 406

Merit: 252

Veni, Vidi, Vici

Thank you. I read few lines but this is a 'hot' paper. As I understand they want of course block chain technology but they think and propose centrally bank cryptocurrencies, if someone wants can download 3rd reference from chapter 4, they admire the first successful case of an Estonian bank and they mention something with 'paint' bitcoins as data carriers and so on.

mobnepal

legendary

Activity: 1218

Merit: 1006

As we all know government never gonna accept bitcoin rather they will just use blockchain tech behind bitcoin. And in the report found example about how they gonna use blockchain tech to have 24x7 service.

Quote

Distributed ledger technologies have the potential to help governments to
collect taxes, deliver benefits, issue passports, record land registries, assure the
supply chain of goods and generally ensure the integrity of government records
and services.

They seem just interested in distributed ledger tech using blockchain not in bitcoin.

Quote

But this report is not about Bitcoin. It is about the algorithmic technologies
that enable Bitcoin and their power to transform ledgers as tools to record,
enable and secure an enormous range of transactions.

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: Xester on December 08, 2016, 04:30:29 AM

Quote from: Jet Cash on December 08, 2016, 03:05:50 AM

I've started reading this government paper on distributed ledger technology. It's fairly meaty, and I'm not even half way through it, but I thought it was interesting. It could give some insights into future planning and products in the UK - Royal Mint Gold for example.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/492972/gs-16-1-distributed-ledger-technology.pdf

Wow its so cool. Though i do not fully understand the concept but what I like about distributed ledger is the movement of datas. I am working in a planning department and the difficulty we face all the time is the collection and consolidation of raw datas from other agencies. But this new technology the distributed ledger will allow any agency to access upated datas that are occuring from time to time. To the clients and citizens this will be the new face of transparency of records.

I salute this innovation, hope this also happen in my country so our work may focus on important planning details rather just wasting time on gathering datas which are already there.

transparency of records??
no

it is a better distribution of records for agencies but its all going to be locked within those agencies. meaning the UK HMRC (tax office) can se peoples 'accounts' passport office can see births, deaths and marriages records easily.
but citizens accessing it.. nope.

Xester

hero member

Activity: 994

Merit: 544

Quote from: Jet Cash on December 08, 2016, 03:05:50 AM

I've started reading this government paper on distributed ledger technology. It's fairly meaty, and I'm not even half way through it, but I thought it was interesting. It could give some insights into future planning and products in the UK - Royal Mint Gold for example.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/492972/gs-16-1-distributed-ledger-technology.pdf

Wow its so cool. Though i do not fully understand the concept but what I like about distributed ledger is the movement of datas. I am working in a planning department and the difficulty we face all the time is the collection and consolidation of raw datas from other agencies. But this new technology the distributed ledger will allow any agency to access upated datas that are occuring from time to time. To the clients and citizens this will be the new face of transparency of records.

I salute this innovation, hope this also happen in my country so our work may focus on important planning details rather just wasting time on gathering datas which are already there.

Jet Cash

legendary

Activity: 2870

Merit: 2474

https://JetCash.com

I've started reading this government paper on distributed ledger technology. It's fairly meaty, and I'm not even half way through it, but I thought it was interesting. It could give some insights into future planning and products in the UK - Royal Mint Gold for example.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/492972/gs-16-1-distributed-ledger-technology.pdf

Topic: The UK government view on distributed ledger technology (Read 699 times)