Libdems to Harness Blockchain Tech, Plan to Invest Heavily in R&D – Trustnodes

Libdems to Harness Blockchain Tech, Plan to Invest Heavily in R&D


Jo Swinson with Libdem candidates, Nov 2019

The Liberal Democrats plan to put the economy front and centre of their pitch to Britain in the historic election, which is now just four weeks away, after their flagship Brexit policy for Remain.

The manifestos are not yet out, but it’s expected to be very pro business with sources saying they are to invest heavily in research and development.

On blockchain technology they’re supportive of positive uses and plan to work with the blockchain group at G7 to address potential concerns and improve upon areas like privacy, money laundering, or monetary stability.

Just how much they are to invest exactly is not clear, but if they are elected they’ll be looking at ways to harness blockchain technology we’re told.

Specific details will be provided once the manifesto goes out, but Libdems are positioning themselves as highly supportive of responsible businesses that respect their communities.

Jo Swinson, the leader of Libdems, has stated she plans to invest a £50 billion Remain Bonus in public services and in tackling inequality.

Fact checkers have stated the claim that the government would have £50 billion more if UK remains in EU is “a fair assessment of the best available forecasts comparing Remain to a Brexit deal scenario.”

Just how much of this £50 billion might go towards this space is not clear, but the overall tone from Libdems appears to be one of backing blockchain innovation.

Depending on how the campaign unfolds they may end up as king makers in this election, with Libdems and conservatives fighting in many marginal seats.

The attitude of a potential Boris Johnson led conservative government towards this space is not clear as their manifesto is not out either.

But Johnson mentioned Fintech in passing in a speech last month, with Fintech being an umbrella term that includes blockchain, stating “London has overtaken New York as the number one city for investment in fintech firms.”

That was during the Libdem-Conservative coalition in 2014 or so when the then chancellor famously bought some bitcoin.

Johnson was not in government at the time, so we’ve asked his campaign of their attitudes towards this space. A response or lack of it would probably be the primary indicator of how they may approach the innovative sector.

Labour has been asked too as this space transcends party lines, with the campaign likely to heat up next week when you’d expect the manifestos and the detailed laying out of three very big visions for Britain and its role in the world.


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