The House of Lords, which is the upper chamber of the UK parliament, recently released a report in which they covered the potential opportunities for distributed ledger technologies (DLT) across government services.
The report suggests that DLT could be applied to different sectors, such as customs, immigration, national security and public safety, healthcare, cybersecurity and more and this could change the way these sectors work, shifting it to a decentralized, trustful mechanism between the government and its citizens.
The House of Lords stresses the importance of commissioning a team to research the DLT’s potential to improve the delivery of public services. However, the report also looked at the potential issues associated with DLT, arguing that the technology is still at an early stage and there are certain risks such as ICOs and scalability issues that could hinder the implementation of DLTs in public services.
Lord Christopher Holmes, who led the release of the report, said in an official foreword:
“Our working hypothesis is that DLT can play a valuable part in enhancing the delivery of government services to the citizens of the U.K., in securing the U.K.’s competitive position as a global leader in technology‐based innovation and in protecting the security of government and citizens; data at a time when both are increasingly under threat.”