Digital Asset, Paul Ryan foundation target US state benefits with Canton pilot

The RISE program aims to integrate and distribute state-administered benefits across three US states beginning in 2027, leveraging the Canton Network. Digital Asset, the developer of the Canton Network, and Paul Ryan's American Idea Foundation will pilot this blockchain-based system. The pilot is slated for the first quarter of 2027 and will consolidate multiple benefits into monthly or bi-monthly payments.

Spending rules will apply to categories such as food, childcare, and cash. The system will automatically adjust benefit levels based on changes in household income. Canton will manage rules, permissions, and transactions while safeguarding sensitive data. The pilot aims to minimize penalties for recipients as their income increases.

The companies have not disclosed the participating states or specific benefit programs. The RISE program could introduce a public-benefits use case to Canton, which has primarily focused on institutional finance. Canton has already been used in Japan to test government bonds as digital collateral. The Canton Coin (CC) has a market capitalization of around $4.1 billion and has increased by approximately 10% over the past week.