The British Blockchain Association — influencing policy and exploring the potential of blockchain
On Tuesday 6th March the British Blockchain Association (BBA) attended the All-Party Parliamentary Group on Blockchain (APPG Blockchain) to help them understand blockchain, its potential and how it can have a positive impact on British society and the economy.
Helen Disney, Advisor for Policy, Governance and Public Affairs at the BBA presented to the group and explained that, “while cryptocurrencies such as Bitcoin are already an incredible innovation, blockchain has even greater potential to transform business and society than simply being used for payments and financial transactions”.
She also emphasised that any proposed regulation should be carefully considered so as not to hinder the innovative potential of this growing industry.
“Policymakers looking at blockchain and DLT need to strike the right balance between encouraging innovation and safeguarding the public interest. If blockchain is the so-called ‘trust layer of the internet’, policymakers should consider how to be sure that we can rely on that ‘trust layer’ and which types of governance mechanisms should be put in place for when things go wrong.”
Members of the APPG on Blockchain, including the British Blockchain Association, will give evidence illustrating what blockchain’s opportunities are for the economy, industry and society, and what its potential effects and challenges might be.
In a joint statement on behalf of Grant Shapps MP and Damien Moore MP on the Extraordinary General Meeting (EGM) of the All-Party Parliamentary Group on Blockchain (APPG Blockchain) states:
“The APPG Blockchain will ensure that parliamentarians are fully informed of the opportunities that blockchain and other distributed ledger technologies (DLT) will bring to industry and society and will promote the UK as a leader in Blockchain/DLT’s innovation and implementation.
“The APPG Blockchain will bring evidence, use cases and future policy scenarios, while considering industry and societal implications as well as environmental opportunities.”.
The BBA will be pivotal in influencing the group; uniting views from its members, industry and academia; on how the APPG and UK Government can ensure the safe adoption of blockchain technology in the UK.
If you are a member of the BBA please send your views to email@example.com
To join visit www.britishblockchainassociation.com/membership