Letters: Britain’s best in class NFT
[Re: Sunak sets out plan to turn UK into ‘global hub’ for crypto, April 4]
Rishi Sunak’s plans to turn the UK into a ‘global hub’ for crypto are a much-welcomed step in the right direction if Britain’s financial services industry is to remain world class – but we need to make sure our country’s educational efforts do not lag behind our regulatory ones.
We’re seeing the ranks of forward-thinking, financially-minded British people getting involved and deriving real value from blockchain technology swell by the hour. Indeed over 2.7m Brits have visited our platform this year alone, doing their research, discussing it with others, and making sensible investment decisions as a result.
Yet, much of our storied press and institutions remain dismissive of crypto, calling it a fad at best, and decrying it as a den of thieves and money launderers at worst. Is it any wonder then, that much of the general public still associates cryptocurrency with scams, get-rich-quick-scheme, and coins named after dogs?
If we’re serious as a nation about continuing our long-held tradition of innovation, and being at the forefront of development – especially within the financial services – then we also need to get serious with our efforts to educate people about the intrinsic, significant benefits that come with blockchain technology. And stop all the cynicism just because something’s new.
James Maddison