Will United Kingdom become the future Blockchain market leader?

At least this is the result of a new report on this topic. The document states that Great Britain may become the leader of Blockchain technology by 2022.

The report was carried out by three companies: Big Innovation Center, DAG Global and Deep Knowledge Analytics. Their common goal was to explore the potential effects that would bring together forces from business, academic and public scopes in the use of innovative technologies. According to their joint analysis, the United Kingdom has all the government, technological and industrial resources to become a leader in the ecosystem of cryptocurrencies and the global center of Blockchain technology development. The authors of the report even give specific border dates. It would have been possible for up to 4 years.

The report notes that in 2017-2018, British companies from the Blockchain technology market invested over 500 million GBP in development and investments. Importantly, the report notes that the Blockchain industry is still at an early stage of global development, which is an opportunity for the British economy and local companies to be at the forefront of the ongoing revolution.

Birgitte Andersen, general director of the Big Innovation Center, told the Guardian that the UK parliament sees this opportunity in Blockchain technology and “shows commitment to supporting the accelerated development of the digital economy through various government initiatives.”

Sean Kiernan, CEO of DAG Global, has similar observations:

“The UK is an important global financial center, and in recent years has also become a leader of fintech, while at the same time it is showing significant potential to become a leader in Blockchain technology and cryptocurrency.”

Make UK great again?

“Until now, Great Britain waited and watched the development of cryptocurrencies.” – we wrote in March.

Slowly begins, change. The UK authorities want to regulate the cryptocurrency market (depriving it of anonymity). He also takes steps to implement blockchain technology in the public and private spheres. A group of professors from Oxford want to create, for example, the first “blockchain university” in the world, whose aim is to democratize the traditional structure of higher education.

Earlier, the National Archives of the United Kingdom revealed that it was considering using blockchain to create unminkable records for its archiving needs.

Politicians are also increasingly open to Blockchain by publicly promoting technology. Best example is the Minister of Housing, Eddie Hughes, who called on the leaders of his country to make Blockchain one of the government’s priorities. All in order to “enable social freedom, increase efficiency and restore social trust.”

It is worth adding that this report is not the only one showing these trends. A recent study by Imperial College London and the U.K trading platform eToro has shown that cryptocurrencies can become the main means of payment in the near future.

Do you know that
– The first industrial revolution in the 18th century was initiated in Great Britain? More info HERE

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