British Chancellor of the Exchequer Philip Hammond believes that one of the thorniest Brexit issues – the Irish border – can be resolved using technology such as blockchain.
“There is technology becoming available, I don’t claim to be an expert on it, but the most obvious technology is blockchain,” Hammond said, adding that implementation of blockchain solutions is a good way to ensure commerce across Ireland’s border remains frictionless after the UK departs the European Union.
An outer EU border
EU and UK Brexit negotiators fear that the boundary between Northern Ireland and the Republic of Ireland could become an external EU border. If this occurs, movement and trade on the island would be severely affected. Northern Ireland is part of the United Kingdom while the Republic of Ireland is an independent country and a member of the European Union.
In August, the UK’s Ministry of Justice began experimenting with blockchain for the storage of digital evidence. The move was part of the reform plans by Her Majesty’s Courts and Tribunals Service aimed at creating a secure and immutable way to track custody of evidence.
The British Food Standards Agency implemented blockchain for meat inspection and tracking beef from the slaughterhouse to the consumer.