UK trade groups are advocating for blockchain and digital assets to be included in the planned Tech Bridge collaboration with the US because they recognize the strategic importance of maintaining competitiveness in the rapidly evolving digital economy. This initiative reflects the UK’s broader ambition to position itself as a global leader in financial technology and digital innovation following Brexit, where establishing strong bilateral tech partnerships has become crucial for economic growth. The trade groups understand that blockchain technology underpins many emerging financial services and could become a significant driver of trade and investment between the two countries.
The push for inclusion demonstrates the recognition that blockchain technology extends far beyond cryptocurrency trading to encompass supply chain management, digital identity, smart contracts, and central bank digital currencies. UK trade organizations likely see collaboration with the US as essential for developing interoperable standards, sharing regulatory best practices, and creating a unified approach to blockchain innovation that could compete with developments in Asia and other regions. This collaboration could facilitate cross-border blockchain projects, joint research initiatives, and standardized regulatory frameworks that benefit businesses in both countries.
Success in including blockchain in the Tech Bridge could position the UK-US partnership as a leading force in global blockchain development and regulation, potentially influencing international standards and practices. This collaboration might also help both countries develop comprehensive approaches to digital asset regulation while fostering innovation in areas like decentralized finance, tokenization of traditional assets, and blockchain-based trade finance. The initiative reflects a strategic understanding that early collaboration in emerging technologies often determines long-term competitive advantages in global markets.
