Digital Asset, the creator of the Canton Network, and former US House Speaker Paul Ryan’s American Idea Foundation are planning a blockchain pilot for state-administered benefits across three US states. Called RISE, the programme is expected to launch in the first quarter of 2027 and will use Canton to combine multiple benefits into monthly or twice-monthly payments. The system is designed to adjust benefit levels as household income changes while applying spending rules for areas such as food, child care and cash.
The companies have not yet revealed which three states will participate or which specific benefit programmes will be included. The pilots will also need federal approval before they can go ahead.
The idea is to make the existing benefits system easier to manage while reducing the sharp loss of support that families can sometimes face as their income rises. Under the proposed system, several benefits could be brought together into a more coordinated payment.
Participating agencies would be able to use Canton to track payments, account balances, spending and compliance information. Digital Asset said the network would coordinate the rules, permissions and transactions needed to distribute the benefits while limiting access to sensitive personal information.
Ryan said the pilots are intended to test whether a modernised safety net can help families increase their earnings without facing disproportionate reductions in support.
The proposed RISE programme would give Canton a new use case in public services. The network has so far gained much of its attention in institutional finance, particularly through projects involving tokenised assets and government securities.
In April, Japan Securities Clearing Corporation, Mizuho, Nomura and Digital Asset launched a proof of concept using Canton to explore the use of Japanese government bonds as digital collateral. The project included testing real-time and cross-border transactions and received support through Japan’s Financial Services Agency Payment Innovation Project.
Canton was also used in July for a tokenised US Treasury transaction involving Franklin Templeton and Virtu Financial. Tradeweb handled execution and price discovery, while the Treasury changed hands against USDCx in real time. Tradeweb described the transaction as an industry first.
The expansion into government benefits could therefore take Canton beyond its growing role in financial markets. Instead of simply moving tokenised securities or collateral, the network could potentially be used to coordinate payments that directly affect households.
Canton’s native token, Canton Coin (CC), is used to pay transaction fees through the network’s Global Synchronizer. According to CoinGecko data cited in the announcement, CC had a market capitalisation of about $4.1 billion and ranked 23rd among cryptocurrencies. The token was also up around 10% over the previous week.
For now, however, the RISE project remains a pilot rather than a confirmed nationwide system. Its success will depend on federal approval, participation by state agencies and whether the technology can deliver simpler benefits without compromising privacy or access to support.
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment