UK Turns To Blockchain To Monitor Welfare Spending

A senior UK government official has outlined plans to use distributed ledger technology to track welfare claimants’ spending, revealing that a real-world trial is already underway.

Conservative peer Lord Freud, the minister of state for welfare reform, said yesterday that payments made by nine benefit claimants are currently being recorded using blockchain technology as part of a “small scale exploration of behavioural effects”.

Freud said more individuals have agreed to join the Department for Work and Pensions (DWP) trial, which has been developed in partnership with GovCoin — a UK-based fintech start-up — as well as Barclays, energy giant RWE npower and University College London.

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