HomeBlockchain TechnologyUK Positioned to Lead the Crypto Economy According to a New Report

UK Positioned to Lead the Crypto Economy According to a New Report


A new report revealed that the United Kingdom is very well-positioned to become a leader in the field of blockchain-based technology and the cryptocurrency economy in general.

A recent analysis by the Big Innovation Centre, DAG Global, and Deep Knowledge Analytics revealed that the United Kingdom is strongly positioned and has all the necessary resources to become a global blockchain and crypto hub by 2022.

According to the Chief Executive of DAG Global, Sean Kiernan, the reasons behind this fact is that the UK is already an established financial hub and making steady progress in the fintech field as well. He says:

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.

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The authors of the report outlined that they’ve used the outstanding amount of money (upwards of 500 million GBP) invested in the field of blockchain as merits for their conclusions.

Furthermore, the report also outlined that the technology has been already recognized by the country’s parliament. The chief executive of the Big Innovation Centre, Birgitte Andersen, says:

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.

It’s worth noting that the UK announced March 21st that it has assembled a task force which is set to investigate the benefits as well as the risks of cryptocurrencies.

The news comes opposing the views of Mark Carney, Governor of the Bank of England, who has more than once expressed his rather negative sentiment towards the digital currencies.

What do you think of the recent report positioning the UK as one of the future leaders in the cryptocurrency field? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock.


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