Digital Asset, Canton Network creator and former Speaker of the US House Paul Ryan’s American Ideas Foundation plans to pilot a blockchain-based system for distributing state-governed benefits in three US states using the Canton Network.
The RISE program is expected to launch in the first quarter of 2027 and will combine multiple benefits into monthly or bi-monthly payments, with spending rules applied to categories including food, childcare and cash.
According to Friday’s announcement, the system will automatically adjust benefit levels to changes in household income and allow participating agencies to track payments, balances, expenses and compliance data through the canton. Digital Assets said Canton will coordinate the rules, permissions and transactions used to deliver benefits while limiting access to sensitive information.
Ryan said the pilot benefits are intended to reduce penalties that can occur as recipients’ incomes increase:
By combining fragmented benefits, reducing penalties as families earn more, and rigorously measuring outcomes, these pilots can help show what a modern safety net should look like.
The agencies did not name participating states or specify which benefit programs would be included, and said the pilots would be subject to federal approval.
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The canton expands government-linked use cases
The RISE program could add a public-benefit use case to Canton, whose recent growth has largely focused on institutional financing, including projects involving government securities.
In April, Japan Securities Clearing Corporation, Mizuho, Nomura and Digital Asset launched a proof of concept using Canton to test Japanese government bonds as digital collateral with real-time, cross-border transactions. The project has been selected for support under Japan’s Financial Services Agency Payment Innovation Project.
Canton was also used in July to settle a tokenized US Treasury trade between Franklin Templeton and Virtu Financial through tradeweb management and price discovery. Treasuries changed hands against USDCx in real time, which TradeWeb first described as an industry.
Canton’s native Canton Coin (CC), which is used to pay fees for transactions through the network’s Global Synchronizer, has a market capitalization of about $4.1 billion and ranks 23rd among cryptocurrencies, according to CoinGecko Information. CC is up about 10% in the past week.
Source: CoinGecko
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