Introduction to Report by Tom Rodden: “This report addresses the most discussed digital technologies of the last few years. There has been considerable debate about the potential benefits and threats that arise from the use of Distributed Ledger Technologies. What is clear from these debates is that blockchain is an important technology that has the potential to transform a range of sectors. The importance of Distributed Ledger Technology was identified and discussed in a 2016 report produced by Sir Mark Walport, the UK Government’s Chief Scientific Adviser at the time.
The report provided recommendations for the use of blockchain to meet national needs, and to ensure the UK’s competitiveness in the global arena. The report outlined the need for a broad response that spanned the public and private sector, whilst also recognising the need for leadership in the development and deployment of blockchain technologies.
This report provides an update and reflection on the use of blockchain technologies by Governments and Public Sector bodies around the world. Much has happened since 2016 and this report provides a reminder of the importance of Distributed Ledger Technologies for the public sector, and the various orientations of blockchains adopted across the globe. The team have mapped the various regulatory and policy responses to blockchain, and cryptocurrencies more broadly. This mapping not only reveals a varying degree of friendliness towards blockchain, it also highlights the challenges involved in implementing Distributed Ledger Technology systems in the public sector.
Distributed Ledger Technologies are an important technology for the public sector, albeit there exists a number of policy implications. If we are to show leadership in the use of blockchain and its application it is imperative that we are aware of both its benefits and limitations; and the issues that need to be addressed to ensure we gain value from the use of Distributed Ledger Technologies. This report captures the public sector experiences of blockchain technologies across the globe, and also documents the issues raised and the various responses. This is a hugely informative and useful document for those who seek to make use of blockchains in the public sector….(More)”.