British Government Explores Disbursing Research Grants In Bitcoin
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....
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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....
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 US Department of Homeland Security (DHS) has awarded as much as $600,000 in grants to six companies working on blockchain applications for the government. According to a press release from earlier this week, the department’s Science and Technology Directorate has parceled out $3.1m in grants to 29 small businesses based in the US in areas focused on data analytics, connected devices and blockchain. Each company received about $100,000, the government said. The funds came from the agency's Small Business Innovation Research (SBIR) program, following a solicitation period that began in....
Governments are showing increasing interest in cryptocurrencies and blockchain technology. A recent press release details that this week the US Department of Homeland Security (DHS) plans on funding $600,000 in grants to government-related distributed ledger startups. DHS Funds Blockchain Research for ID Services. A couple of years ago no cryptocurrency....
UK Government Funds Research in Digital Fintech and Promotes Firm Regulations. In November, the U. K. government launched a call for information on digital currencies, with a focus on their function as a payment method rather than as a speculative investment. After receiving more than 120 responses, the government released a Treasury document titled "Digital Currencies: Response to the Call for Information," which summarizes the submissions received and outlines the government's views and proposed next steps: The government intends to apply anti-money laundering regulation to digital....