Crypto Analysts Report Reveal Britain To Be Key Player In Blockchain Economy
UK Poised to Lead Crypto and Blockchain Economies, Reported in New Claim
There is a new report that claims the UK is about to become the leader in blockchain technology as well as other cryptocurrency industries.
The Impact Will be on a Massive Scale and Global
The final decision comes form analytics performed by the BIC (Big Innovation Centre), DAG Global, as well as Deep Knowledge Analytics – other third-party groups are also involved on blockchain – which has continually seen the UK as the country most complete with resources essential for being successful in the cryptocurrency space.
The Guardian made note that reports also makes claims that the UK has all the needed governmental and industrial requirements to push the nation forward to the frontline of cryptocurrency by 2022. The more than five hundred million pounds worth of UK based blockchain companies has completed during the previous two years was used to justify the bold claim.
Sean Kiernan, CEO of DAG Global, shows his beliefs in the United Kingdom’s traditional system of finance with the pairing of cryptocurrency is primed and ready to go. The United Kingdom is one of the largest financial areas in previous years, becoming a finteach leader at the same time. They’ve also begun to show their potential to become one of the leaders in blockchain technology along with the cryptocurrency industry. The bridge between traditional economies and cryptocurrency remains to be laid, however, in the near future it’s likely that we will see the gap narrow and eventually disappear entirely.
BirgetteAndersen, CEO of The Big Innovation Ceter also made remarks on the blockchain finally being recognized by parliament as a potentially disruptive and important technology to pay attention to. Also, along the lines of blockchain helping to quickly advance the virtual economy through several government-based developments. The impact from all of it will be massive in the UK, along with the rest of the world.
Bears of England
Unlike many of its neighbors, England hasn’t been as harsh towards cryptocurrencies. Even so, Governor of the Bank of England, Mark Carney, has been rather prejudice against cryptocurrencies like BTC – stating that the coin hasn’t been able to stabilize for use as a viable currency or store of value as some may suggest. He’s also speared Bitcoin and other cryptocurrencies during interviews with sources like Bloomberg, saying it easy that they’ve failed plain and simple. The cryptocurrencies are too unstable or volatile to carry any real intrinsic value to justify external backing of any kind.
Deputy Governor of the Bank of England, Sam Woods has also made statements on the risks of using cryptocurrencies, commenting on the relatively short lifespan of crypto-coins. They’ve always been volatile with relative liquidity. Cryptocurrency also gives concerns because of its use for misconduct which destabilizes market integrity. Most of the coins are susceptible to fraud, hacking or money laundering, with some even being used on the black market.
Even though the Bank of England has opinions regarding BTC as well as other cryptocurrencies which are not positive, it is still under speculation as to whether or not the United Kingdom’s legistlators and regulators will approach BTC or cryptocurrencies with excitement, wanting to push them to the frontlines of British economies.
What are your thoughts on Big Innovation Centre’s, DAG Global’s, and Deep Knowledge Analytics’ claims that the UK is ideal for being the world leader in Blockchain technology and cryptocurrency. Tell us your thoughts in the comments below.