Briefing 111 - Blockchain: the background, basics and potential for local government services
April 16, 2018
Blockchain is best known as the technology that underpins the world’s leading cryptocurrency, Bitcoin. It is blockchain that allows Bitcoin to be securely traded.
That is the one and only reference to Bitcoin I want to make. Bitcoin, its highs and lows, Mark Carney’s call for tighter financial regulation, the ‘Bitcoin mining factories’ that are presenting the world with a new and increasing climate change challenge, is a whole other story.
But blockchain itself is still big news. Why? Because it has the potential to increase trust in government services, to encourage positive citizen engagement, to change the way the public sector does business, to enable real, secure data sharing, support the GDPR, improve multi-partner working, reduce process inefficiencies and positively change the role – and reputation – of government.