UK Pension and Welfare Agency Is Looking Into Blockchain For Future Implementation

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This could be the DWP’s method of streamlining the taxing process of all pension funds and saving costs on things like data collection and etc. Image courtesy of Independent Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies Found a mistake? Richard LAYCOCK said that implementing the blockchain would bring great benefit to the speed, efficiency, and cost of conducting millions of transactions every single day while also saving the data on comprehensive ledgers for lawmakers to study. Select the text and press CTRL+ENTER On August 9th in a blog post, the deputy director of digital payments and banking systems at the Department of Work and Pensions (DWP) made a statement that the DWP was looking for ways to revamp its payment systems in order to make them better adapted to the current economic situation in the country.

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On August 9th in a blog post, the deputy director of digital payments and banking systems at the Department of Work and Pensions (DWP) made a statement that the DWP was looking for ways to revamp its payment systems in order to make them better adapted to the current economic situation in the country. Richard LAYCOCK said that implementing the blockchain would bring great benefit to the speed, efficiency, and cost of conducting millions of transactions every single day while also saving the data on comprehensive ledgers for lawmakers to study. It’s likely that the DWP will indeed implement the Distributed Ledger Technology (DLT) sometime this year and base it on local banks’ attempts at trying out the blockchain technology.

08.08.2019  |   in UK Tax...

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