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UK government explores the use of blockchain technology

Wednesday 2 September 2015 11:31 CET | News

The UK government has started exploring the use of blockchain technology in a bid to improve the transparency and accuracy of its record keeping.

A unit of the UK Cabinet Office has declared that the team has been examining registers – how they are currently formatted and managed, and how they could potentially be improved through the use of a blockchain.

One problem is the delay that exists between a change being made to data on a register and that change being made available to users of the service. This exists with registers that cannot be accessed directly through an API. A more important issue is that of data integrity, which relies upon each register having a reliable registrar and method of recording and updating the data in question.


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Keywords: Bitcoin, online payments, digital payments, cryptocurrencies, blockchain, UK
Categories: DeFi & Crypto & Web3
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DeFi & Crypto & Web3






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