APPG Blockchain Shows Presentations of 4 Firms Using Real-World Distributed Ledger Applications
The only way for blockchain to thrive in the economy is by showing the use cases that it can be applied to. In seeking ways to regulate the technology and see the best ways to use it, the UK Parliament gathered demonstrations that could show policymakers at least a fraction of the potential for blockchain technology.
The All-Party Parliamentary Group on Blockchain (APPG Blockchain) brought live presentations from IOTA, Oracle, Everledger, and Lloyd’s of London. The audience for these presentations included members of parliament, government officials, and leaders within the industry, according to the organizers of the event.
These demonstrations show the way that blockchain can be used in real life when dealing with supply chains for olive oil (Oracle), supply chains for diamonds (Everledger), international trade (IOTA), and insurance claims and settlement of transactions (Lloyd’s). Fernando Santiago of Big Innovation Centre said that the presentation event could make a major mark in blockchain technology’s UK industry. He called the event a “pivotal moment” that could ultimately “define our future leadership” regarding commerce, governance, and competition in blockchain technology.
Leading up to the event, the APPG Blockchain published the Online Blockchain showcase, which included videos of various companies in the space. The 10 firms involved in these videos were featured at the live showcase with a “One-Minute Challenge” that showed the way that blockchain could be used in the government, healthcare, education, finance, and industry sectors.
The organizers of the presentation event said that it was inspired by an analysis that was performed of the entire blockchain industry of the UK last year, which APPG Blockchain included on its website. This group was created as a collaborative effort of cross-party parliament members to make sure that the UK can be a part of the progress of blockchain. With these features in mind, the UK’s participation in the blockchain industry could prove to be beneficial to the economy, society, governance, and provision of public services.
Consumers can read more about these opportunities on the parliamentary web page for APPG Blockchain at publications.parliament.uk/pa/cm/cmallparty/180131/blockchain.htm.