A coalition of leading UK digital economy trade groups has called for enhanced support for blockchain and digital assets.
Appeal to the UK Government
On March 31, six trade bodies sent a letter to Varun Chandra, the UK Prime Minister’s special adviser on business and investment. They highlighted the need for greater strategic focus to attract investment, growth, and jobs in the UK’s digital asset sector. The groups emphasized the importance of being flexible and proactive to avoid falling behind other players.
Proposal for a Special Envoy
The letter proposed the appointment of a blockchain-specific envoy, similar to the US ‘crypto czar,’ to coordinate policy, foster innovation, and represent the UK on the global stage. This position would signal a serious commitment to attracting international investors and staying at the forefront of technological development.
Plans for Sector Growth
The coalition also urged for a rollout of a government action plan for blockchain and crypto. This involves identifying key growth areas, providing public sector support, and creating a concierge service to help high-potential startups. Furthermore, the importance of synergy between blockchain, AI, and quantum computing was highlighted as it could lead to significant advancements in transparency, productivity, and decentralization.
The UK government has a basis for discussing further steps to support the blockchain industry with the aim of maintaining the country's competitiveness.
