UK Trade Groups Push for Blockchain support
Leading UK digital economy groups are urging the government to boost blockchain and digital assets. they want a dedicated envoy and action plan to stay competitive.
On March 31, six trade bodies wrote to Varun Chandra, the Prime Minister’s adviser. They include the UK Cryptoasset Business Council and techUK. The groups seek “greater strategic focus” for the digital asset sector.
They warn of a global digital race. Countries like Singapore and the UAE are attracting blockchain businesses. The UK must stay flexible or risk falling behind.
The coalition proposes a blockchain-specific special envoy. This would coordinate policy and foster innovation. They also want a ‘Government Action plan’ for blockchain and crypto. This would involve identifying key growth areas and providing public sector support.
The groups stress the synergy between blockchain, AI, and quantum computing. Leveraging these technologies could unlock major advances in transparency and productivity.
They recommend creating a high-level industry-government-regulator forum. This would ensure informed policymaking and a forward-thinking approach.
The UK has “deep pools of talent” and “world-class academic institutions.” This creates a suitable surroundings for blockchain innovation.
The coalition estimates blockchain could boost the UK’s economy by £57 billion over the next decade. They also recommend creating a high-level industry-government-regulator forum.
The letter closed with a call for a meeting to discuss the proposals.
