Distributed Ledger Technologies

Lord Holmes of Richmond Excerpts

Wednesday 18th July 2018 Lords Chamber

Asked by

[Lord Holmes of Richmond]

To ask Her Majesty’s Government what action they are taking to co-ordinate the current uses, and potential future uses, of distributed ledger technologies across Whitehall.

[Lord Holmes of Richmond (Con)]

My Lords, in asking the Question in my name on the Order Paper, I declare my interests, as set out in the register. Most importantly, I wish my noble friend the Minister a very happy birthday.

[The Parliamentary Under-Secretary of State, Department for Digital, Culture, Media and Sport (Lord Ashton of Hyde) (Con)]

My Lords, the Government are committed to supporting the development and uptake of emerging digital technologies in the UK, including distributed ledger technology, or DLT. The Secretary of State, with the Minister for Digital, co-hosted a round table on Monday with companies and academics. The Government’s Chief Scientific Adviser met firms and cross-government leads last Friday. Several departments and public bodies have ongoing DLT proof-of-concept projects and there is a cross-government community of interest attended by officials.

[Lord Holmes of Richmond]

My Lords, does my noble friend agree that although this question may appear somewhat niche, in simple terms, distributed ledger technologies could be as impactful as the internet? In fact, they may prove to be the internet of value, with a real opportunity for the United Kingdom to take a global lead, not least in implementation and standards. Does my noble friend also agree that there are a number of proofs of concept across Whitehall—in his own department, DCMS, the DWP and Defra, to name but three? What action is currently being undertaken to co-ordinate those proofs of concept, to take any to pilot, and to assess their potential?

[Lord Ashton of Hyde]

My Lords, I thank my noble friend for his good wishes. May I return the compliment by wishing him well on his marriage next week?