Should we transform or adapt to blockchain - a public sector perspective?, Ali Shahaab
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Blockchain International Scientific Conference https://www.britishblockchainassociation.org/isc2020
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Should we transform or adapt to blockchain - a public sector perspective?, Ali Shahaab
- 1. Transformation or Adaptation of Blockchain at Crossroad of Institutional to Distributed Trust Journey? A Public Sector Perspective Ali Shahaab PhDC – Cardiff School of Technologies Cardiff Metropolitan University, UK ashahaab@cardiffmet.ac.uk
- 2. Introduction Trust is paramount for society to function. For centuries, humans have relied on trust intermediaries to facilitate transactions. “Power corrupts and absolute power corrupts absolutely.” John Emerich Edward Dalberg, Lord Acton. 2007-08 Financial Crisis, Cambridge Analytica, Facebook Phsycological experiment, etc.
- 3. Shift in Trust with Socio- economic change Trust is declining. Public services are seeking solutions that can help establish trust and increase transparency with its citizen. Can DLTs such as Blockchain Technology help as a trust enabler?
- 4. When a Blockchain Makes Sense? If a trusted third party (TTP) can be used, then blockchain should be avoided. (20 of 30 schemes that Koens & Poll Studied) “What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party” – S. Nakamoto.
- 5. When to use a blockchain? Blockchains have some intrinsic properties (Decentralisation, Persistency, Anonymity, Auditability, Resiliency, etc.) A heuristic approach should be taken when designing systems and make use of the combination of these properties. It is too early to really conclude on the potential usability of the technology. The social shift, change in user’s perception and awareness would determine what ends up on the distributed, temper evident ledger.
- 6. Public service perspective BCT can be potentially used for any transaction or information exchange which involves government engagement (Ølnes et. al). BCT will not completely eliminate role of institution or governments, but there will be a shift in the roles. disintermediate the role of institutions in record keeping and establishing trust requires governance and regulatory frameworks to operate legitimately. Governments must remain the data stewards, accountable for running the operations and be accountable for any failures or issues Organisations globally are pushing for transparency and information sharing to provide better service and improve trust factor. Digital Economy Act (UK)
- 7. About Companies House 4 Million + Registered Companies 500K + New Companies / Year 3 Billion Queries A lot of personal Information Share Information
- 8. The challenges Data validation Accuracy Trust Security Identification of legal entities Visibility of inter- company activities (Transparency) …
- 10. Information sharing with other public services
- 11. Identity system for legal entities
- 12. Data sharing and fraud mitigation Courts CH Insolvency services Credit referencing HMRC LE
- 13. In Conclusion BCT can flourish between the cracks between human and institutional behaviour. Adaption paves the path to transformation. We must ask if we want to use a trusted third party instead of can a third party be used? A BC based solution utilising digital identities and verifiable claims can truly transform the trust factor in companies and companies house data Add greater value to the data acquired by the relevant authorities while simultaneously making the data sharing and verification easy.
Editor's Notes
- During 2007-2008 economic crisis, 1.3 million people were made redundant in the UK and 10 years later, we were still on average, 30 pounds a week worse off than we were before the crash. However, only 28 bankers were charged by the UK authorities and only five were convicted
- Pew Research center (2015) – Trust in Federal Government is declining since 1958 and it is at historically low levels.
- Similar to the mid 1990s when only a handful people could predict the emergence of the behemoths like Google, Facebook and Amazon,
- Governments can act as trusted administrators who manage the registry and defines transaction rules and regulations to ensure the functioning of the facility. Digital Economy Act (UK) encourages data sharing among public services to improve the public service delivery for the benefit of individuals or households and providing targeted public service
- CH recently consulted on a proposal regarding the newly proposed reforms. The reforms will require companies to disclose additional information which will be verified before acceptance and the steps to be taken to improve the exchange of intelligence between CH and UK Law Enforcement. The reforms will include knowing who is incorporating, managing and controlling companies, improving the usability and accuracy of data on the companies register, ensuring compliance and protecting personal information on the register and sharing intelligence and other measures to daunt abuse of corporate entities
- Define a smart contract. LE submits a DP request. Network verifies the request. CH prepares the data, encrypt, sign and upload to cloud. Encrypt transaction link and posts on DLT along with data hash. LE decrypts link, verifies hash and accesses the data. Smart contract removes the link and data can be deleted safely. A complete secure audit trail.