Blockchain Will Have a ‘Monumental Impact’ Says Conservative MP Matt Hancock

In order to keep in line what we were commenting in the last articles, Matt Hancock, British Conservative Member of Parliament (MP) said that blockchain will have a ‘monumental impact’ in people’s lives. Mr Hancock said these words during a speech pronounced on April the 19^th.

Blockchain’s Impact

During a speech presented at the Law Society as part of the London Blockchain Conference, the British MP explained that blockchain has an exceptional potential for the future. He believes that blockchain has real possibilities to change the way government services work.

“Blockchain technology holds real potential to make Government services more efficient. Its multi-faceted nature means we all stand to benefit,” said Mr Hancock. “This technology could help us solve some of the great global social challenges of our time.”

At the same time, he remarked that they were working in order to make Britain ‘the best place in the world’ to start a blockchain or crypto-related business. Moreover, and according to what he says, the UK was able to save billions of pounds for tax payers.

Matt Hancock explained:

“There is wide interest across Government in deploying blockchain to tackle a wide range of issues, including from Defra, the Ministry of Justice, DFID, HMRC, and BEIS. The government has already invested around 10 million pounds through Innovate UK and our research councils, to support blockchain projects in areas as diverse as energy, voting system and maximizing value from items donated to charity.”

The speech he pronounced emphasizes the way distributed ledger technology could facilitate different daily processes. Furthermore, he explained how the technology was able to help migrants coming from different parts of the world.

In this way, the technology gains more supporters among politicians that are working in different governments from all over the world. Enterprises and governments can seriously benefit with the correct implementation of this technology. Only time can tell how the future will look like with Blockchain technology embedded in our lives.

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