UK blockchain: With its latest moves in the crypto space, the UK is well-placed at becoming a global leader in blockchain technologies.

According to the group analysis by DAG Global, Big Innovation Centre, and Deep Knowledge Analytics, Great Britain has all the required resources to become a global hub for blockchain technology by the year 2022.

CEO of DAG Global, Sean Kiernan, told The Guardian:

“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. 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.”

Report Findings

The authors of the report considered the £500 million worth of investments made between 2017–2018 into the UK’s blockchain companies. Due to these calculations, the group concluded that the country could easily become a digital ledger and crypto leader within the next few years.

This research was also supported by the all-party parliamentary group on blockchain.

In the past, blockchain has been seen by the UK parliament as an emerging and important technology. Parliament has taken necessary strides in the past to support the accelerated development of the technology and to stay ahead of most countries. The country’s leaders recognize its disruptive abilities and don’t want to fall behind.

“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,” CEO of the Big Innovation Centre, Birgitte Andersen, told The Guardian.

Andersen states that there are a variety of “government incentives” that are in place that will continue to drive more investments into UK blockchain companies.