All-Party Parliamentary Group On Blockchain (APPG) on 18 March,showcased real-world blockchain applications to educate lawmakers.
The event featured live exhibitions four firms working in the blockchain industry: Lloyd’s of London, IOTA, Oracle, and Everledger.
The live demonstrations showcased real-life applications blockchain is likely to do in international trade displayed by IOTA, insurance and transactions settlement by Lloyd’s, supply chain for olive and diamonds by Oracle and Everledger.
In audience were members of parliament, government officials and industry leaders, said the statement from organizers.
According to Fernando Santiago, blockchain research and project manager at Big Innovation Centre, he was optimistic the event could mark an important step for the U.K.’s blockchain industry, saying:
“This is a pivotal moment for UK, which could define our future leadership in governance, commerce and competition.”
Leading to the event, the group published Online Blockchain Showcase done by 10 companies which, during the live showcase also participated in a “One-Minute Challenge” advancing how government would utilize blockchain in the healthcare and education sectors, as well as finance and industry.
According to its organizers, the promising outcome of a 2018 analysis of the U.K. blockchain industry, presented by APPG Blockchain on its website along with associated organizations was inspiration for the event.
APPG Blockchain was formed by cross-party members of parliament to enable, guide and ensure that the U.K. take the central role in unlocking opportunities that blockchain can offer for the country’s economy, society, and governance, as stated by
This event shade light on the possible parliamentary involvement for blockchain use case implementation. The U. K’s, as a global leader, adoption of the technology within its borders would potentially trigger global adoption. This could lead other countries into adoption as more governments follow their lead.