Social Security Benefits: Cryptocurrencies

Department for Work and Pensions written question – answered on 9th February 2018.

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Photo of Eddie Hughes Eddie Hughes Conservative, Walsall North

To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the effectiveness of the GovCoin trial; and what plans her Department has for the future use of that technology.

Photo of Kit Malthouse Kit Malthouse The Parliamentary Under-Secretary of State for Work and Pensions

A small proof-of-concept trial was undertaken in 2016. The trial was led by Universal Credit officials who worked with DISC Holdings (formerly Govcoin) to trial an app on a mobile phone that customers could use to receive and manage benefit payments.

The trial provided valuable insight into customer needs, and this was used to inform the decision to develop a future method of payment strategy that outlines DWP’s commitment to improving the methods available to make payments to customers. The Department is currently working with industry to identify new and emerging payment opportunities that suit the needs of DWP and its customers, in support of the future strategy.

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