The pilot focussed on building a single \u2018permissioned\u2019 Blockchain that could be used to inform a trader\u2019s \u2018Authorised Economic Operator\u2019 status. The proof of concept ran for six weeks, and established that government could use Blockchain to securely share the results of sensitive risk checks to improve the efficiencies of certain customs processes.<\/p>
<\/p>
Any significant implementation of Blockchain would require significant further work by HMRC. Further work on the application of Blockchain to \u2018Authorised Economic Operator\u2019 status is deferred until after the UK leaves the EU when timescales and cost will be revisited.<\/p>
<\/p>
We are working with the cross government Future Borders Programme to progress the pilot as part of their Trusted Trader initiative<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3935", "label" : {"_value" : "Biography information for Mel Stride"} } , "answeringMemberConstituency" : {"_value" : "Central Devon"} , "answeringMemberPrinted" : {"_value" : "Mel Stride"} , "dateOfAnswer" : {"_value" : "2019-02-07", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-02-07T15:01:12.39Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-01-30", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Customs: Distributed Ledger Technology"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, pursuant to the Answer of 19 February 2018 to Question 128296 on Brexit, if he will provide an update on (a) the potential use of distributed ledger technology for any new customs system after the UK leaves the EU and (b) the outcome of the proof of concept trials referenced in the Answer.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4635", "label" : {"_value" : "Biography information for Eddie Hughes"} } , "tablingMemberConstituency" : {"_value" : "Walsall North"} , "tablingMemberPrinted" : [{"_value" : "Eddie Hughes"} ], "uin" : "214643"} , {"_about" : "http://data.parliament.uk/resources/1037836", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1037836/answer", "answerText" : {"_value" : "
The Government has invested over £10 million through Innovate UK and the research councils to support a wide variety of DLT related projects. The Government has also created a £20 million GovTech Catalyst Fund to explore technology-based solutions for public sector challenges, potentially including the use of DLT.<\/p>
<\/p>
The Government set out its approach to cryptoassets and the underlying distributed ledger technology (DLT) in the report of the Cryptoassets Taskforce[1]<\/sub><\/sub>. The Government wants to encourage responsible development of legitimate distributed ledger technology (DLT) and cryptoasset-related activity in the UK, while also mitigating risks.<\/p> <\/p> The financial regulators continue to provide a platform that facilitates innovation and the development of new technologies in the financial system. For example, the Financial Conduct Authority has accepted a significant number of DLT-based projects into its Regulatory Sandbox. The Bank of England has also committed to ensure that its new RTGS service will be compatible with DLT-based payment systems.<\/p> [1] The full report of the HM Treasury/Financial Conduct Authority/Bank of England Cryptoassets Taskforce is available here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752070/cryptoassets_taskforce_final_report_final_web.pdf<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4051", "label" : {"_value" : "Biography information for John Glen"}
}
, "answeringMemberConstituency" : {"_value" : "Salisbury"}
, "answeringMemberPrinted" : {"_value" : "John Glen"}
, "dateOfAnswer" : {"_value" : "2019-01-11", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-01-11T11:18:43.683Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-01-08", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Distributed Ledger Technology"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, what (a) fiscal and (b) regulatory steps his Department is taking to (i) support UK and (ii) encourage overseas blockchain and crypto-based companies establish themselves in the UK.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4635", "label" : {"_value" : "Biography information for Eddie Hughes"}
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, "tablingMemberPrinted" : [{"_value" : "Eddie Hughes"}
], "uin" : "206446"}
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