Blockchain is on the Rise. A new report states the UK has the potential to become a leader in blockchain technology and the crypto economy by 2022, The Guardian reported July 16.
The report states that more than £500 million in investments were made into British blockchain companies in 2017-2018. The study’s authors consider the blockchain industry to still be in the early stages of development globally, leaving open the potential for Britain’s leadership.
Sean Kiernan, the chief executive of DAG Global, predicts that the gap between Britain’s traditional and crypto economies will “lessen and eventually disappear” within the next few years, adding:
This report is not the first one that predicts the global transformation of the crypto economy. A recent study conducted by the Imperial College London and U.K. trading platform eToro found that cryptocurrencies have the potential to become a mainstream means of payment in the near future, as Cointelegraph reportedJuly 9.
UK governors and politicians have also been publically promoting blockchain technology recently. As Cointelegraph reported July 4, housing minister Eddie Hughes has called on the country’s leaders to make blockchain development for government a priority “to enable social freedom, to increase efficiency, and to rebuild societal trust.”