Just when you thought there could not be anything new under the sun related to blockchain, now here comes news that the British Parliament has created a high level group to study blockchain technology and its impact, headed up by lawmakers, Grant Shapps MP and Damien Moore MP.
The group will be called the ‘All-Party Parliamentary Group on Blockchain (APPG Blockchain)’ and will be similar to the all party group for AI, which has been hearing evidence from AI experts – including legal AI company founders – over the last 12 months.
As with AI, the aim here is to try and gather evidence from experts and public policy gurus. That insight will then help to inform recommendations on possible legal and regulatory change in the future.
In this regard the potential outcomes here are significant. It will also be a very important stage for law firms and smart contract/legal blockchain experts to present evidence and make sure the APPG has the fullest possible understanding of the pros and cons of blockchain/smart contract tech, and issues involved.
In a group statement, the lawmakers said: ‘The APPG Blockchain will ensure that parliamentarians are fully informed of the opportunities that blockchain and other distributed ledger technologies (DLT) will bring to industry and society and will promote the UK as a leader in Blockchain/DLT’s innovation and implementation.’
‘The APPG Blockchain will bring evidence, use cases and future policy scenarios, while considering industry and societal implications, as well as environmental opportunities,’ they concluded.
The first meeting, which will be an Extraordinary General Meeting, will take place in Parliament on Tuesday 30th January at 3:15pm in the Boothroyd Room and will be attended by representatives from industry, Parliament and the Big Innovation Centre.
If you would like to attend, or give verbal evidence in the future please contact: