A gathering of 51 nations in the metaverse recently featured a delegation of British politicians who shared their vision for the UK’s blockchain and Web3 industries with leaders from around the world.
During the metaverse gathering, eight British Lords and politicians had the opportunity to speak to world leaders about the possibilities and obstacles brought about by the expansion of Web3 technology.
Natalie Elphicke, a member of parliament and the chair of the newly established All Party Parliamentary Group (APPG) for Blockchain Technologies, made her presence felt in the metaverse with a distinctive avatar.
During her appearance, she emphasised the significance of the next phase of the internet. Adding that, “Web3 represents a paradigm shift that reimagines the very fabric of the internet.”
As chair of the APPG on blockchain technologies, I was pleased that me and Avatar Natalie could join the British Blockchain Association’s Global Summit today to give a keynote speech – held in the metaverse. @Brit_blockchain @APPGBlock pic.twitter.com/hDriQA5rAv
— Natalie Elphicke MP (@NatalieElphicke) September 20, 2023
During her keynote address, Elphicke highlighted the potential for the UK to transform into a blockchain-powered, ‘Smart country’. However, she also acknowledged that the nation is currently falling behind its competitors in terms of creating jobs related to blockchain technology.
Blockchain roadmaps in the UK
According to Cointelegraph, She emphasised that the main national priority for the UK is the growth of the Web3 industry and the strategic planning of its workforce. “Part of that is about making the UK an attractive hub for Web3 founders, developers, programmers and companies to work here,” said Elphicke.
Elphicke went on to advocate for the development of national blockchain roadmaps and further emphasised the need for international collaboration, pointing out that fewer than 12 countries have currently published such roadmaps.
She highlighted another priority, which involved advancing the National Blockchain Roadmap published in 2021. This roadmap outlines an ambitious goal to establish a blockchain-driven, ‘Digital nation’, with applications in areas like climate mitigation, industrial symbiosis networks, and digital identity programs.
“It is unquestionable that our world is being tokenised,” she said, “Physical assets are getting tokenised, and this trend will only grow from here.”
Elphicke also discussed DeFi, adding that it presents both distinctive challenges and opportunities for regulators and policymakers. She points out the importance of ensuring transparency, auditability, and accountability within these ecosystems.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
