The Tron blockchain technology could form the basis of an initiative to digitize documents, UK government officials have said.
On July 20, the Electronic Records Act came into force, repealing age-old regulations on the trading and storage of information.
Tron's blockchain technology could be used to implement this law if it passes a reliability test, officials said.
According to independent organizations represented by the England and Wales Judiciary Commission, billions of different documents are moved around the world every year, which entails significant costs for maintaining logistical links.
The main idea of the new law is that digital documents will have the same legal force as paper ones. Sarah Greene, Commissioner for Legal Affairs, spoke about this.
According to Green, blockchain technology is very promising in this regard. However, questions remain regarding its reliability and safety.
A government press release states that "electronic records can simplify record tracking and logistics. Distributed ledger technology can help with this."
According to James Butterfill, research manager at CoinShares, this could be a big step forward for the UK in terms of the adoption of digital assets.
He also believes that using blockchain technology to produce documents can make the workflow more efficient.
In the long term, this will lead to a significant reduction in logistics costs.
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