UK MP Calls for Government to Harness Blockchain Technology

According to CoinDesk, UK Member of Parliament Natalie Elphicke has called for the government to do more to take advantage of blockchain technology. Speaking at an event in London hosted by the All Party Parliamentary Group on Blockchain Technologies, which she chairs, Elphicke emphasized the importance of industry and policymakers working together to advance understanding and application of the technology. She highlighted potential uses such as increased transparency in global supply chains and digital identity and data purposes. Elphicke also urged the UK to collaborate with other countries on blockchain issues and match the pace of international regulators. While the UK has expressed its desire to become a crypto hub, it has done little in terms of blockchain policy. The country plans to regulate the sector in phases, starting with legislation for stablecoins being introduced early next year. The blockchain APPG group plans to launch round table discussions and seek industry input on how the UK can harness skills, opportunities, and diversity in blockchain.