The UK government view on distributed ledger technology

[Jet Cash]

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

[Xester]

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.

[franky1]

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.

[mobnepal]

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.

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.

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.

[sportis]

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.

[GreenLighter]

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

[shinratensei_]

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.

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.

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.

[MingLee]

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.

[error08]

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.

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.

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.