UK Politicians Envision Nation's Blockchain Future in Global Metaverse Meeting
Summary:
UK politicians, including Natalie Elphicke, MP and chair of All Party Parliamentary Group (APPG) for Blockchain Technologies, shared a blueprint for advancing the nation's blockchain and Web3 sectors during a 51-nation metaverse gathering. Elphicke emphasized turning the UK into a 'smart country' enabled by blockchain, but noted the UK was behind in blockchain-related jobs. She called for comprehensive national blockchain roadmaps and international collaboration. She also addressed Decentralized Finance (DeFi) and real-world asset tokenization, highlighting the importance of transparency and accountability.
Several UK politicians participated in a metaverse discussion with leaders from 51 different countries on September 20th, unveiling a plan for the advancement of the nation's blockchain and Web3 sectors. The virtual gathering had eight UK Lords and political figures focusing on the benefits and drawbacks emerging from the rapid evolution of Web3 technology. Natalie Elphicke, a member of parliament and leader of the recently formed All Party Parliamentary Group (APPG) for Blockchain Technologies, introduced her unique metaverse avatar and stressed the significance of this new phase of the internet, describing Web3 as a significant change that redefines the core structure of the internet.
Elphicke took center stage in her keynote address, conveying the UK's potential to evolve into a 'smart country' backed by blockchain. However, she also pointed out that the UK wasn't on par with its international rivals in terms of job opportunities in the blockchain sector. According to Elphicke, the UK sees the growth in the Web3 industry and workforce planning as top priorities. She said, "A part of this vision includes making the UK a desirable destination for Web3 entrepreneurs, developers, programmers, and businesses."
Elphicke pushed for a comprehensive blockchain roadmap for the nation and more collaboration between countries. As of now, she observed that less than 12 nations have shared their roadmaps. Echoing the National Blockchain Roadmap published in 2021, she advocated further action on this blueprint. This vision details the aspiration to create a digital nation underpinned by blockchain technology, with potential applications in areas such as climate change mitigation, industrial symbiosis networks, and digital identity schemes.
Touching on decentralized finance (DeFi), she observed it offers unique hurdles and possibilities for regulators and policymakers. She stressed the importance of ensuring transparency, accountability, and auditability in these systems. Elphicke also spoke about the tokenization of real-world assets, stating unequivocally that "our world is getting tokenized, and this trend will only gain momentum."
Yet, on September 19, an online safety bill passed through Parliament intended to regulate UK internet services, including in the metaverse.
Published At
9/21/2023 5:55:57 AM
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