Matthew Hancock Proposes Blockchain to HM Government
Matthew Hancock, the cabinet minister in Her Majesty's government has proposed the use of blockchain technology for disbursing research grants. Bitcoin’s underlying blockchain technology offers a transparent and secure way to store and retrieve information. Britain is looking forward to utilizing this feature to account for and track the expenditure of tax payer’s money given out in the form of research grants to universities and research institutions. Recently, the minister for Cabinet Office and paymaster general Matthew Hancock has reportedly brought up the possibility of using....
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The British government is considering disbursing research grants using bitcoin or some other blockchain-based currency, according to Matthew Hancock, the Minister of the Cabinet Office and Paymaster General. In a speech at Digital Catapult, a government-funded think tank., Hancock said the Cabinet Office has begun exploring ways to use blockchains with a particular interest in how it could be used in the disbursal of government research grants. “Monitoring and controlling the use of grants is incredibly complex. A blockchain, accessible to all the parties involved, might be a better way of....
U.K. Minister for the Cabinet Office Matt Hancock is persuaded that blockchain technology could transform the way government works. In a speech given at an event organized by Digital Catapult and Imperial College’s Centre for Cryptocurrency Research and Engineering (IC3RE), Hancock outlined some of the government’s current plans to leverage blockchain technology for government applications. The “policy hack day” for government representatives was organized by Digital Catapult and the IC3RE on April 26 in order to help government officials identify possible applications of blockchain....
During a speech earlier this week at a London blockchain event, a senior UK official said that the government is looking to blockchain applications as it rethinks how public funds are being tracked. Matt Hancock, Minister of the UK Cabinet Office and a member of Parliament, told attendees of the event – organized by the nonprofit group Digital Catapult and the cryptocurrency research effort ran by Imperial College London – that the British government is in the midst of reimagining public services in the digital age, and that blockchain will likely play a role in the changes to come.....
The UK Government is exploring the Blockchain as a possible way to increase efficiency. The digital currency, Bitcoin’s distributed ledger may help distribute taxpayers’ money as well as grants and student loans. On Monday, at a Blockchain networking event in London, cabinet minister and paymaster general Matt Hancock said that the Blockchain could “foster a new level of trust”. "Government cannot bury its head in the sand and ignore new technologies as they emerge, said Hancock. - That is partly what happened in the past in government with the web ... We cannot let that happen....
Life insurance and financial services giant John Hancock has begun work on multiple blockchain proofs-of-concept designed to show how distributed ledger technology could reinvent established insurance industry processes. But, as yet, the proofs-of-concept aren’t actually related to insurance. Instead, the company that last year doled out $24.6bn in customer claims is exploring blockchain in a wide-range of areas of the business, with actual insurance applications only to come in the future. John Hancock’s head of innovation, Ace Moghimi, said his team was working on several blockchain....