Distributed Ledger Technologies Debate
Full Debate: Read Full DebateDepartment: Department for Digital, Culture, Media & Sport
Lord Howell of Guildford
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Distributed Ledger Technologies
Lord Howell of Guildford Excerpts(6 years, 4 months ago)
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Lord Ashton of Hyde
The first question is whether we should be creating a single digital identity, and I defer to the Home Office on that. If that decision was made, whether distributed ledger technology is the right technology for it is, I think, a secondary question.
Lord Howell of Guildford (Con)
My Lords, blockchain is the technology behind bitcoin and the cryptocurrencies. Will the Government consider stepping in and regulating in this area or is it inherently uncontrollable?
Lord Ashton of Hyde
The Cryptoassets Taskforce, which consists of the Treasury, the Bank of England and the Financial Conduct Authority, is considering exactly that question. It expects to deliver a report in late September 2018.