UK’s economic and finance ministry highlights benefits of blockchain

Announcements | October 19, 2015 By:

Uk’s economic and finance ministry secretary Harriet Baldwin MP has spoken about the benefits of digital currencies and blockchain technology during her speech in London.

Baldwin said the government is working to create the right regime for digital currency businesses and to attract both overseas investors and companies to the UK.

“The potential to facilitate the fast, efficient, and secure transfer of ownership of digital assets – including bonds, shares, and other financial instruments, over the internet; and the function of digitally ‘signing’ and time-stamping digital assets – helping maintain records of digital documents securely and efficiency. In other words, it’s all about making processes simpler and life easier,” said Baldwin.

The secretary also touched upon the government’s pledge to inject £10m into research addressing the opportunities and challenges of digital currencies and their underlying technology as part of its larger pledge to innovation in FinTech.