A Blockchain Background
The UK has been pretty quiet when it comes to Cryptocurrencies and the latest technology. Not a lot of news has been making its way out of the country. However, this may well be about to change as it is revealed that the country is pretty much on track to be well ahead of the game in 2022 when it comes to Blockchain. This would be massive news for this European island.
News of Blockchain’s huge benefits is now spreading extremely quickly in industries and governments around the world. The positives of this latest technology are being seen in all four corners of the globe with Argentina recently jumping on the Blockchain bandwagon in a bid to resolve its large inflation issues. The latest technology is literally going from strength to strength as people realise that is not simply assisting the Cryptocurrency industry but has so much more to offer.
The UK’s Coming
There are already countries that are renowned as world leaders in the Blockchain and Cryptocurrency industries although these do change frequently. At the moment, countries such as China, Japan and Switzerland are amongst the favourites. However, recent research has suggested that the UK is on the brink on becoming part of this elite group. The latest information reports that the UK has everything in place to become a world leader within the next four years. Many may well be astounded by these details especially since there has been so little coming out the of country when it comes to the new digital economy. However, DAG Global – a Crypto Bank – has stated otherwise. After extensive research in the market, the financial institution has announced that the UK has everything in place to be the best of the best. The resources are available as well and the government backing which are the most important elements. These two things – along with the £500 million that the UK has put into Blockchain companies in less than two years – could well see the UK becoming a hub in the very near future.
Fintech Is Strong
It is known that the UK is already well and truly on the map in fintech and there is a rumour that £800 million was sunk into fintech companies that are based in London alone in 2017. This is a massive investment for such a small country. A great example of this is TransferWire which now boasts over 2 million customers and transfers over $1 billion every single month. This foreign currency exchange is a huge player from the UK and show cases just what the country can do.
As we all know all too well nothing can ever be predicted in the Cryptocurrency or Blockchain industries, everything changes so quickly. However the UK is setting itself up well to becoming one of the leaders in Blockchain technology. Whatever happens it is expected that the country’s involvement in how this latest technology develops will be fundamental. Who knows how things will evolve but it sure is going to be an interesting, exciting and challenging journey.