[2016-04-27] ToI: Britain may use blockchain to track taxpayers money

[polynesia]

Britain may use blockchain to track taxpayers money

http://timesofindia.indiatimes.com/tech/tech-news/Britain-may-use-blockchain-to-track-taxpayers-money/articleshow/52007966.cms

The British government is exploring using the blockchain technology that underpins the bitcoin currency to increase efficiency in the distribution of taypayers' money such as grants, a minister said on Tuesday.

A blockchain works as a decentralised ledger that is verified and shared by a network of computers, and can be used to record data as well as to secure and validate an exchange of assets, such as currencies or commodities.