Marginal Gains With Blockchains: Let's Get Back To Basics In Government

The recent Government Office for Science report, Distributed Ledger Technology: beyond block chain, describes the algorithms that enable the creation of distributed ledgers as "powerful, disruptive innovations that could transform the delivery of public and private services". Certainly, when we look at the phenomenal interest in blockchain technology shown by banks, it is clear that the UK Government's view is shared – at least for now – by a number of goliaths of industry.

The Government's report also talks about where the technology might be applied in the public sector: to collect taxes, deliver welfare benefits, issue passports, register assets, assure the supply chain of goods and generally ensure the better use and integrity of government records and services. In theory at least, there are few parts of government, local or national, that wouldn't benefit in some way from the application of a distributed ledger or blockchain-based approach.