UK Industry Groups Urge Blockchain Inclusion in US-UK Tech Agreements
UK trade organizations advocate for blockchain’s inclusion in the US-UK Tech Bridge deal, emphasizing its role in financial innovation and global competitiveness.
Fact Check
Source 1, a news report from Bloomberg Law, directly and explicitly confirms the statement. The headline reads, 'UK-US 'Tech Bridge' Should Include Blockchain, Lobby Groups Say,' and the content specifies that 'UK trade groups urged the government to include blockchain technology in any deal on cooperation in technological innovation it signs with the U.S.' This is a direct, credible, and recent piece of evidence.
- Reference: 1
Summary
Several UK tech, finance, and crypto organizations have urged the government to include blockchain in US-UK trade discussions. The groups emphasized the need for stablecoins and asset tokenization to enhance financial competitiveness and warned that excluding blockchain could put the UK behind other regions in technology adoption.
Terms & Concepts
- Blockchain: A decentralized digital ledger technology that records transactions across a network in a secure, transparent, and tamper-resistant manner.
- Stablecoin: A type of cryptocurrency pegged to a stable asset, such as a fiat currency, to minimize price volatility.
- Asset Tokenization: The process of converting rights to a real-world asset into a digital token on a blockchain.