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UK Member of Parliament Natalie Elphicke has called on the government to do more to support the development and adoption of blockchain technology in the country.
UK MP Urges Government to Adopt Blockchain Technology
He made the statement at an event hosted by the Blockchain Technologies Parliamentary Group, which he chairs.
Elphicke said blockchain technology has the potential to transform various industries such as supply chain management, digital identity and data security.
He said the UK should aim to be a leader in this field and work with industry and policymakers to advance the understanding and application of the technology.
He also stated that the UK should cooperate with other countries that are taking steps to regulate and promote blockchain technology, such as the US and Belgium.
He noted that the UK government has expressed interest in becoming a crypto hub, but has not provided much clarity on how it plans to oversee the blockchain industry.
Elphicke also announced that the parliamentary group he leads will be calling for industry roundtables and a series of views to gather more information and insights about blockchain technology and its impacts on the UK economy and society.
*This is not investment advice.