The Internet of Public Value

Abstract

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 organizations are increasingly turning to Distributed Ledger Technology (DLT) to address these challenges. Distributed ledger technology is enabling a new paradigm in financial services where organizations 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 paper explores how a new Public Value Network might enable Public Service Organizations to retain their existing decentralized business models, (budgets, decision making, business, service design) yet optimize and synchronize locally and nationally, collaborate in the design and delivery of frictionless human centric services, automate- services, adherence to and auditing of regulation, policy and process and improve financial transparency across public service value chain.