The blockchain is now an established technology and has many future applications, such as the backbone of a crypto currency or the integrity of a metaverse. A lesser one is to support a DAO (see below), which is where NONPOL wants to progress to in the future.

The blockchain, is a ledger of transactions that are recorded in a time-stamped order. Anyone can get a copy of a ledger, as it does not belong to an organisation or a government, which is why governments don’t like it; if you have a copy, you can view every transaction on the ledger. We would like to create a blockchain specific to the UK as we believe this technology is revolutionary and allows for a plethora of possibilities in the future. This blockchain is what we would intend to utilise in support of our other projects detailed below.

Bitcoin was the first successful use of the blockchain, allowing anyone to download the Bitcoin ledger into a digital wallet. If someone tries to buy something with Bitcoin, the buyer can check the ledger to verify that the person actually has those Bitcoin and didn’t spend them 5 minutes ago with somebody else – a little like your current account with the bank. A Blockchain is therefore decentralised, as no one entity or person owns it, only the people using it – a bit like the Internet.

The UK Blockchain will be used for the following future applications:

UK-dedicated cryptocurrency – With the demise of the gold standard and the unrealistic leveraging of debt allowed by banks and governments, sovereign currencies (known as FIAT) are dead and it’s only a matter of time before the world will need to develop a better version of global currency. Until 2009, this was not an option. Bitcoin has since changed that and even with many Governments and banks effort to stop this currency it is now very well established, even to the extent that mainstream portfolios now holding Bitcoin, it is here to stay. It is highly conceivable that, in the future, each nation will have its own globally fungible (meaning interchangeable) cryptocurrency.  Ideally we would like the Bank of England to adopt and run the exchange of the UK cryptocurrency – this way, the Bank can manage the money supply (which is what they are good at). They would also charge a fractional transaction fee (possibly only a few pence) instead of claiming interest, in order to earn revenue for the Government. This is currently how Bitcoin works; there are millions of Bitcoin transactions every minute, each having a very small transaction fee. This currency would be able to be used in every day life and also in the UK Metaverse (see below). Similarly, you can earn this currency in or out of real life. Additionally, by having our own cryptocurrency, we don’t have to rely on the volatility of other cryptocurrencies and don’t need to print worthless money with impunity.

Blockchain of contracts – In future, all legal documents (like mortgages, land registry documents, birth certificates, marriage certificates, death certificates, academic  qualifications, hygiene licenses, etc)  can be put on the Blockchain by the appropriate authorised body for everyone to see, use and instantly verify, in order to reduce fraud and increase transparency.

Built by party membership – The cost of developing, maintaining and securing a blockchain is a complex and costly process. When NONPOL has 30,000 members, we will have the funds to finance the Digital UK 2 project.  In return for supporting NONPOL, when the Blockchain goes live, the first 30,000 members will be given 1000 units of the UK cryptocurrency. As an indication of how valuable that could be, Bitcoin has reached the heights of over £48,000 per coin. If the NONPOL cryptocurrency becomes legal tender in the UK, it could well exceed Bitcoin in value. Hopefully with 30,000 investors it will create its own natural integrity, thereby making it ideally for UK wide adoption.

Voting in the UK – The Blockchain can be used to vote. It would be cheap, quick and impossible to misuse. Furthermore the whole country could view the exact results.  With a tool like this in place NONPOL would be able to have almost weekly referendums on things going through Parliament so see what the country felt. Of course these referendums would have to follow our 70/70 rule.