Blockchain and its distributed ledger architecture is one the most promising technologies to emerge since the birth of the web and has sparked interest in all corners of government.
The House of Lords notes the possibilities of applying distributed ledger technology (DLT) to many government services but also highlights some of the risks of adopting this technology.
It seems that every major company has announced that they are investigating the use of DLT technology within their business. As a result we are seeing demand for DLT and smart-contract developers outstripping the available supply of people with the relevant skills.
That the House of Lords has come out with this recommendation seems to be a step in the right direction. Although for a government that aspires to be a 'digital leader' it would have been better to hear these kinds of announcements earlier.
Great Britain’s upper chamber of parliament, the House of Lords, has recommended the exploration of the possible various applications of Blockchain or distributed ledger technology (DLT) across government services. The House added that the government should study the possibility of using the technology in such sectors as national security and public safety, healthcare, cybersecurity and customs and immigration.