UK Must Establish Digital Asset Strategy to Maintain Competitiveness
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Lack of Unified Strategy: Lord Chris Holmes argues that the UK risks falling behind in digital assets and emerging technologies due to the absence of a coherent government strategy, which has slowed regulatory progress and weakened global competitiveness.
- Regulation and Innovation Coexist: Holmes emphasizes that the UK's fintech sandbox and open banking framework demonstrate that appropriate regulation can foster innovation rather than hinder it, ensuring investor protection and market growth.
- Importance of Digital Identity: He highlights the potential of blockchain in supply chains, public services, and digital identity, asserting that a decentralized digital ID framework could reduce fraud and administrative burdens.
- Urgent Window of Opportunity: Holmes notes that while the UK is not yet behind the US or EU, a lack of coordinated leadership could lead to missed opportunities in the digital asset space.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
