Cryptocurrency and ICO news 05.07.2018

Blockchain to save billions and rebuild social trust in UK

UK housing minister Eddie Hughes released a report into blockchain, calling on the government to “show leadership” by making the technology and its benefits a priority.

The report, ‘Unlocking Blockchain,’ makes several key proposals, using state projects currently underway in Estonia as the standard authorities should follow at home.

“The state should focus its attention on using blockchain to enable social freedom, to increase efficiency, and to rebuild societal trust,” Hughes summarizes.

While the government confirmed it is looking into blockchain’s potential in recent months, it remains unclear to what extent lawmakers are interested in exploiting decentralized technology.

Continuing, Hughes proposed a “long-term” cost-saving exercise using blockchain across government departments, with a goal of shaving off one percent – around £8 billion ($10.56 billion).

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