Blockchain research in the UK is a growing industry, with a new sort of workforce dedicated to researching and investigating this new technology. Whilst the blockchain remains one universal concept, it is now apparent that it boasts many advantages for many companies and industries, therefore it seems that research within the United Kingdom is now at an all time high, a sentiment that is no doubt reflected internationally too.
According to The Fintech Times, Big Innovation Centre, DAG Global and Deep Knowledge Analytics have carried out further research into the blockchain industry in the UK and have published a detailed report that highlights just how much growth the sector has seen. The report concludes that actually, the United Kingdom is on track to become the blockchain capital of the world and could spearhead a new crypto-centric economy, as soon as 2022.
According to The Fintech Times:
“The report identifies and profiles 225 companies, 170 investors, 20 tech hubs, 15 think tanks and R&D centres, 10 incubators and accelerators, and the 100 faces of the UK blockchain industry. It also breaks down on a company-by-company basis the £500+ million-worth of investments into UK blockchain companies that occurred in 2017 and 2018.”
Moreover, according to Professor Birgitte Andersen, the CEO of Big Innovation Centre:
“Blockchain has been recognised by the UK Parliament as a very important and disruptive technology, and it has shown commitment to support the accelerated development of the digital economy via a variety of government initiatives. We are still at the early stages of the Blockchain industry’s development and the huge impact it undoubtedly will have in Britain and globally. Big Innovation Centre is already marshalling our innovation focus as effectively as possible on accelerating our businesses and society, advancing us from ‘digital-economy and e-commerce’ to ‘AI-civilisation and blockchain’. Starting with a map of the Blockchain landscape and its key influencers is crucial.”
See the full article for yourself, here.
Within this report it is clear just how many individuals and companies are working towards blockchain research, proving just how diverse the sector is. Moreover, the report also details some stunning investments made into cryptocurrency and blockchain projects on an institutional level in the United Kingdom, suggesting that whilst it’s still rare at the moment, there is a future for institutional investment into cryptocurrencies in the UK. As the blockchain research industry grows, we expect that institutional investment in the UK will follow. Indeed, if the UK does become the blockchain capital of the world by 2022, then it’s likely that it will also become an organic hub for institutional investment.
Furthermore, according to Sean Kiernan, the CEO of DAG Global:
“The UK is a major global financial hub and in recent years has become a FinTech leader as well. At the same time, it is starting to demonstrate significant potential to become a leader in Blockchain technologies and the Crypto Economy. The gap between the two worlds of traditional finance and Crypto Economy remains, but in the coming years we can expect this to lessen and eventually disappear. DAG Global will work actively to bridge these two worlds into a united, synergetic framework that is poised to yield outcomes greater than the sum of their respective parts.”
This is a very exciting report that promises to put the United Kingdom on the map in terms of its pre-blockchain attitudes and pioneering research. With the rest of Europe in hot pursuit, it does seem that eventually, one of the major european states will take over as the blockchain capital of the world.