The Internet of Public Value
Imagining a new Public Value Network for the UK based on the Corda Distributed Ledger Platform
The UK Government is under growing pressure to improve the performance of public services whilst reducing costs. Services are under stress at a national and local level. This pressure to improve the value being delivered to citizens whilst reducing operational costs and risks is analogous to the pressure the financial service industry has been under since 2008.
Financial services organisations are increasingly turning to Distributed Ledger Technology (DLT) to address these challenges. Distributed ledger technology is enabling a new paradigm in financial services where organisations collaborate and integrate at the infrastructure and transaction level, freeing up resources for innovation and competition at the application and value proposition level; what we are seeing is wholesale business model transformation.
This post explores how a new Public Value Network might enable Public Service Organisations to:
1. Retain their existing decentralised business models, (budgets, decision making, business, service design) yet optimise and synchronise locally and nationally
2. Collaborate in the design and delivery of frictionless human centric services
3. Automate- services, adherence to and auditing of regulation, policy and process
4. Improve financial transparency across public service value chain