The tech that can help the UK to stay relevant after Brexit.
A British Member of the European Parliament (MEP) has called on the City of London and the Bank of England to embrace blockchain technology. The purpose is to stay relevant in the post-Brexit era.
"The UK post-Brexit: how does the City of London stay relevant? The City of London stays relevant by suddenly becoming the proponents of the new technologies and not just patching existing systems to make them work post-Brexit, actually leapfrogging."
The most senior legislator on European Economic and Monetary Committee Kay Swinburne
The MEP said that she felt that a post-Brexit Britain was better positioned than the EU to benefit from blockchain technology, but only if it is prepared to take risks.
"We've got proof of concept of blockchain in so many areas. It now needs to be scaled up. We've got to take some risks. We have the opportunity to really make a difference in a way that I don't think Europe post-Brexit is going to be able to do." - added Kay Swinburne
The U.K. has already demonstrated an interest in the blockchain. Most recently, the government's technology development arm, Innovate the UK, announced in January that it plans to invest £19 million ($26.6 million) in projects contributing to "the fields of emerging and enabling technologies" including distributed ledger technologies.
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