The United Kingdom's Department for Work and Pensions (DWP) is looking at Blockchain and Distributed Ledger Technologies (DLT) to transform its payment services that is expected to benefit its 20 million claimants and customers. The new system is expected to reduce time, cost and failure rate associated with making transactions whilst data is stored on a secure immutable ledger.
The northeastern state of New Jersey has enacted the Blockchain Initiative Task Force law after Governor Phil Murphy signed Bill S2297 last week. The bill, drafted in March 2018, passed the New Jersey Senate with just one vote against it, while the Assembly passed it unanimously. A 14-member task force will study potential use-cases for blockchain technology, including how the Legislature can m
Global blockchain solutions spending is expected to reach nearly $15.9 billion in 2023, according to a report by the International Data Corp. or IDC. The banking sector and the United States will lead the sector wise and region wise spending, respectively, the study shows.