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Parliament of The United Kingdom Creates a Multi-Party Group to Study Blockchain

The British Parliament announced the creation of a high-level group for the study of blockchain technology and its impact on society. The initiative is driven by parliamentarians from the UK’s lower house Grant Shapps and Damien Moore-

The group, says the publication Artificial Lawyer , is multi-party and called the All-Party Parliamentary Group on Blockchain  ( APPG Blockchain ), similar to a series of multi-party groups ( APPG ) dedicated to crucial topics of technology, economics and other disciplines, which collect information from experts and the public and then formulate bills.

Although they do not have official status in parliament, these groups are led by members of the House of Commons and the House of Lords and can choose personalities outside Parliament to integrate them into activities.

For example, the group APPG AI, created a year ago, has been collecting the impressions of citizens and managers of artificial intelligence companies in the last 12 months.

Since the beginning of 2017 the APPG FinTech has been operating , which also includes the blockchain among its points of interest, but the start of a new group focused exclusively on blockchain allows inferring that it is already attributed, from the political circles, an important transforming capacity to this technology.

While from the governments and financial regulators there are opposing – or very cautious – positions against bitcoin , the acceptance of the technology associated with it and many other cryptocurrencies , the blockchain , is almost universal . The reasons for this acceptance are related to transparency – all transactions are replicated in each node of the network – and with the impossibility of modifying the information of that distributed database.

Artificial Lawyer emphasizes that the consultation process that begins – the initial meeting for the formal announcement of the group is this January 30 – conclusions of great potential are expected, especially for law firms and legal experts in intelligent contracts . The APPG Blockchain expects to have the most complete knowledge possible about technology, the pros and cons, and all related aspects.

As antecedents of the interest for the adoption of blocchain in different areas of activity, far beyond the cryptocurrencies, we can mention the efforts of the European Parliament for the adoption and dissemination of this technology and the various statements of the Trump administration that support its adoption, among many others.

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Parliament of The United Kingdom Creates a Multi-Party Group to Study Blockchain


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