Blockchain and benefits

  • That is because the trial involves the payment of benefits and could conceivably involve very sensitive data being made public – or at least that’s the concern of some critics.
  • Earlier this year the government’s chief scientific advisor Mark Walport wrote a report on blockchain – or distributed ledger technology – which was enthusiastic about its potential to produce “disruptive innovations that could transform the delivery of public and private services and enhance productivity through a wide range of applications.”
  • He recommended that the government should back trials of the technology while also looking carefully at the security and privacy implications of using it.
  • He also has a theory that the trial – though billed as a way for claimants to manage their money better – could also be “a potentially efficient way for DWP to restrict, audit and control exactly what each benefits payment is actually spent on, without the government being perceived as a big brother”.
  • “This trial is designed to explore how distributed ledger technology could help support financial inclusion and offer budgeting help, and it does not place any restrictions or limits on what a claimant can spend their welfare payments on, nor tracks how they spend them.”

The UK government faces controversy over an app that tracks how benefit claimants spend their money.
Continue reading “Blockchain and benefits”

Blockchain and benefits

  • That is because the trial involves the payment of benefits and could conceivably involve very sensitive data being made public – or at least that’s the concern of some critics.
  • Earlier this year the government’s chief scientific advisor Mark Walport wrote a report on blockchain – or distributed ledger technology – which was enthusiastic about its potential to produce “disruptive innovations that could transform the delivery of public and private services and enhance productivity through a wide range of applications.”
  • He recommended that the government should back trials of the technology while also looking carefully at the security and privacy implications of using it.
  • He also has a theory that the trial – though billed as a way for claimants to manage their money better – could also be “a potentially efficient way for DWP to restrict, audit and control exactly what each benefits payment is actually spent on, without the government being perceived as a big brother”.
  • “This trial is designed to explore how distributed ledger technology could help support financial inclusion and offer budgeting help, and it does not place any restrictions or limits on what a claimant can spend their welfare payments on, nor tracks how they spend them.”

The UK government faces controversy over an app that tracks how benefit claimants spend their money.
Continue reading “Blockchain and benefits”

Blockchain and benefits

  • The government has quietly launched a bold experiment using the technology behind the virtual currency Bitcoin – and, if anybody notices, it could prove hugely controversial.
  • One recently departed member of the Government Digital Service told me of his amazement that this trial was being allowed to go ahead.
  • It seems there is also concern in Whitehall about the process by which this trial came to be approved.
  • But the worry now is that if the first trials go down the wrong path, then public trust in the technology could be irredeemably damaged.
  • Their concern is that the payment of benefits is not the right place to start this journey of blockchain exploration.

The UK government faces controversy over an app that tracks how benefit claimants spend their money.
Continue reading “Blockchain and benefits”

Blockchain and benefits

  • The government has quietly launched a bold experiment using the technology behind the virtual currency Bitcoin – and, if anybody notices, it could prove hugely controversial.
  • One recently departed member of the Government Digital Service told me of his amazement that this trial was being allowed to go ahead.
  • It seems there is also concern in Whitehall about the process by which this trial came to be approved.
  • But the worry now is that if the first trials go down the wrong path, then public trust in the technology could be irredeemably damaged.
  • Their concern is that the payment of benefits is not the right place to start this journey of blockchain exploration.

The UK government faces controversy over an app that tracks how benefit claimants spend their money.
Continue reading “Blockchain and benefits”

Mark Carney to stay at Bank of England until 2019, sparking relief and disappointment – as it happened

  • Duncan Weldon, head of research at Resolution Group, suggests Mark Carney has played the game rather well….
  • Adam Marshall, Director General of the British Chambers of Commerce (BCC), is pleased that Mark Carney has decided his future.
  • Sorrell: Carney may be hurt by unjustified criticism
  • Tyrie: Carney has a lot of explaining to do….
  • Andrew Tyrie, the influential chair of parliament’s Treasury Committee, is determined to find out why Mark Carney is only going to serve a six year term.

Bank of England governor will stay on for an extra 12 months to provide stability after Britain triggers Article 50
Continue reading “Mark Carney to stay at Bank of England until 2019, sparking relief and disappointment – as it happened”

Blockchain and benefits

#blockchain and benefits - a dangerous mix? - BBC News

  • The government has quietly launched a bold experiment using the technology behind the virtual currency Bitcoin – and, if anybody notices, it could prove hugely controversial.
  • Image copyright Thinkstock Image caption The government says it will not use the app to keep a record of who spent what
  • But the worry now is that if the first trials go down the wrong path, then public trust in the technology could be irredeemably damaged.
  • One recently departed member of the Government Digital Service told me of his amazement that this trial was being allowed to go ahead.
  • It seems there is also concern in Whitehall about the process by which this trial came to be approved.

Read the full article, click here.


@bitcoinagile: “#blockchain and benefits – a dangerous mix? – BBC News”


The UK government faces controversy over an app that tracks how benefit claimants spend their money.


Blockchain and benefits

A Bizarre $600K Bitcoin Giveaway Is Most Likely a Twisted Fake Lottery

  • Since bitcoin addresses are anonymous, rekcahxfb could theoretically send the coins to an address they posted in the comments while pretending to be just another commenter hoping to win the lottery without any concrete link being drawn between the two.
  • Rekcahxfb posted a message and cryptographic signature to go along with the bitcoin address in their post , and when checked against each other with a tool to verify bitcoin signatures, they returned a green “verified” notification.
  • There main theory posited by skeptical commenters is that rekcahxfb, whoever they are, ultimately plans on sending the coins to themselves .
  • Motherboard reached out to rekcahxfb and hasn’t received a response.
  • Who rekcahxfb is, or why they want to give away coins now while pinning it on the Bitfinex hacker, is a mystery.

Read the full article, click here.


@el33th4xor: “Excellent overview of the $600,000 bitcoin giveaway.”


“Please be my Robin Hood.”


A Bizarre $600K Bitcoin Giveaway Is Most Likely a Twisted Fake Lottery