Case Study
Jun 13, 2017• 7 min readWelfare Payments Beyond Bitcoin
N
Nemitari Ajienka
Fintricity Team
Exploring the feasibility of using blockchain technology for welfare payments and the associated privacy concerns.
Bitcoin was introduced as a public participant-managed financial shared ledger network. However, central banks and Governments have come to terms with the downsides of such a decentralised model, including a lack of control over monetary policies.
One use case for blockchain technology is welfare payments. Recently, the UK’s Department of Work and Pensions (DWP) trialled the use of the blockchain to pay welfare benefits to the unemployed and disabled.
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