UK’s Asset Management Sector Lobbies for Blockchain Adoption
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The cryptocurrency market may have hit hard times, but the blockchain technology that underpins the industry is still going strong. In Britain, the asset management industry has been lobbying for the government to adopt blockchain and develop a new class of funds that leverage the technology. Thanks to its decentralized nature, blockchain can benefit financial companies by enhancing security, increasing transparency, providing immediate traceability and automation, and increasing efficiency and speed. Last week, one of the largest trade bodies in the United Kingdom called on the government to work on approving blockchain-traded funds that will issue digital tokens rather than
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