Distributed Ledger Technology: beyond the blockchain
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Government Office for Science publishes report exploring potential of disributed ledger technology to transform public services. The excitement around distributed ledger technologies DLT continues as the Government Office for Science yesterday published a report exploring the potential of the technology to transform government services: As we have explored in a number of techUK events - Beyond the Hype: Delivering on Blockchain's PotentialBlockchain and Identity and Blockchain and Securities Settlement - there is a great deal of discussion around what DLT could enable and achieve but a lot of work remains to be done both in terms of broader education around the technology, particularly, as the report, notes, in breaking the association with the bitcoin blockchain and ensuring that the wide range of DLT models are understood.
Our recent Blockchain event set out to wade through some of the hype, explain the technology and explore some potential use cases across the public and private sector.
The video accompanying Video Explanation of Distributed Ledgers the report provides a brief overview of DLT and notes some use cases whilst likening the transformative potential of the technology to that of the internet. The recommendations in the report are encouraging, but to be effective they must distributed ledger technology beyond blockchain news work that is already well underway in the private sector. More than companies are members of techUK.
Collectively they employ approximatelypeople, about half of all tech sector jobs in the UK. These companies range from leading FTSE companies to new innovative start-ups. The majority of our members distributed ledger technology beyond blockchain news small and medium-sized businesses. Registered in England number Home About About us techUK represents the companies and technologies that are defining today the world that we will live in tomorrow. Programmes grid View groups. Distributed ledger technology beyond blockchain news The ongoing areas of work we are pursuing on behalf of the tech sector.
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Unable to load user with ID: The key recommendations for action are as follows: Ministerial leadership to ensure that government provides the vision, leadership and platform for distributed ledger technology within government. Investment by the UK research community to ensure that distributed ledgers are scalable, secure and provide proof of correctness of their contents.
Government support for the creation of distributed ledger demonstrators for local government, bringing together all the elements necessary to test the technology and its application. Government consideration of the appropriate regulatory framework for distributed ledger technology, noting that regulation will need to evolve in parallel with the development of new implementations and applications of the technology. An assessment of both the legal and distributed ledger technology beyond blockchain news codes will be required and government will need to work with academia and industry to ensure that standards are set distributed ledger technology beyond blockchain news the integrity, security and privacy of distributed ledgers and their contents.
These standards need to be reflected in both regulatory and software code. A call for collaboration between academia and industry to ensure that the distributed ledger technology beyond blockchain news effective and usable identification and authentication protocols are implemented for both individuals and organisations. This will need to work in tandem with development and implementation of international standards. Moving beyond research and using the technology for real life applications and assessable trials in the public sector.
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