Blockchain has the potential of playing an increasingly positive role in how public services are delivered, says a new CIPFA report.
The report ‘Exploring blockchain technologies for collaboration and partnerships’ found that the key features of blockchain, such as immutability, decentralisation and programmability, allows the creation of networks that can be used to support collaboration across stakeholders and organisations.
Blockchain is also considered ‘tamper proof’ so it can significantly improve accountability and transparency, which are both key to good public financial management.
Jeffrey Matsu, CIPFA’s Chief Economic, said: “Wider adoption of blockchain has the potential to improve public policy outcomes in more collaborative ways.
“Digital ledgers can enable innovative ways of managing contracts and relationships that enhance transparency and confidence – delivering longer-term value.”
Download the report at: Exploring blockchain technologies for collaboration and partnerships.