UK Legislators Cast Critical Eye on Bitcoin and Blockchain at Parliament Event

in bitcoin •  3 years ago

 A committee of the UK House of Lords, the upper chamber of  Parliament, struck a curious and at times critical tone when discussing  blockchain technology and its impact on finance and government. During an afternoon hearing of the The Economic Affairs Committee,  members heard from academics and representatives of the blockchain  industry, as well as Ben Broadbent, the deputy governor for monetary  policy of the Bank of England. Lasting about three hours, the hearing  demonstrated a mixture of genuine interest and skepticism on the part of  committee members. 

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As parliament is comprised mostly of landed gentry and people of wealth it does not surprise me that anything which threatens the status quo of big banks and corporations is treated with disdain by them. That's what I love about crypto currencies is the disruption by nature that they bring to finance and the lack of power traditional banks have over them.