A recent report has concluded that the UK has every chance to become a global leader in blockchain technologies and crypto economy, according to the Guardian. The analysis of the current state and future opportunities of UK blockchain industry has been conducted by three UK-based companies, including the Big Innovation Centre, DAG Global and Deep Knowledge Analytics. According to the report, British environment is very favorable for blockchain companies to develop, including the attitude of the government and industry towards the distributed ledger system. The CEO of DAG Global Sean Kiernan underlined that the UK succeeded in gaining the global leadership in such fields as traditional finance and fintech and in future will be able to complete this list with blockchain and cryptocurrency. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ “The UK is a major global financial hub and in recent years has become a fintech leader as well. At the same time, it is starting to demonstrate significant potential to become a leader in blockchain technologies and the crypto economy,” he said. “The gap between the two worlds of traditional finance and crypto economy remains, but in the coming years we can expect this to lessen and eventually disappear.” Such positive stance on the UK’s opportunities in this field can be explained by the fact that the British government has been promoting blockchain, while the authorities of most countries have a rather negative position in relation to blockchain and cryptocurrency regulation. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ “Blockchain has been recognised by the UK parliament as a very important and disruptive technology, and it has shown commitment to support the accelerated development of the digital economy via a variety of government initiatives,” said Birgitte Andersen, the CEO of the Big Innovation Centre, “We are still at the early stages of the blockchain industry’s development and the huge impact it undoubtedly will have in Britain and globally.” The report’s authors considered the £500m-plus worth of investments into UK blockchain companies that were made in 2017-18 and concluded Britain had the potential to become a world leader in the digital and crypto economy ecosystem within the next few years. The research was carried out in coordination with the all-party parliamentary group on blockchain.

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