UK Government Urged to Enhance Support for Blockchain Technology

• Member of Parliament Natalie Elphicke called for the U.K. government to do more to take advantage of blockchain technology.

• The U.K. government wants to be a crypto hub but has said little about how it plans to regulate the blockchain industry.

U.K. Member of Parliament Natalie Elphicke is leading the charge for the government to embrace blockchain technology. At an event at the Thames Pavilion in the House of Commons, Elphicke urged policymakers to work with industry to advance the understanding and application of blockchain technologies.

“I want to see the U.K. doing more to harness the power of blockchain technologies, to be that leader, to mark that step change,” Elphicke said at the event. She chairs the All Party Parliamentary Group on Blockchain Technologies, a cross-party group.

Elphicke emphasized the potential of blockchain, such as providing increased transparency in global supply chains or being used for digital identity and data purposes.

She also highlighted the urgency for the U.K. to keep pace with international regulators and collaborate with other countries on blockchain issues. The U.K. has expressed its desire to be a crypto hub but has done little in terms of blockchain policy.

Elphicke mentioned the U.S. and Belgium as examples of countries taking legislative action to address blockchain technology issues. She also revealed plans for the blockchain APPG group to launch round table discussions next year to gather industry input on harnessing skills, opportunities, and diversity in blockchain.

For more information, you can read the full article here.

Read More