UK Treasury to Appoint Digital Markets Champion for Blockchain Initiatives

According to PANews, the UK Treasury is set to appoint a 'Digital Markets Champion' to oversee the digitalization of wholesale financial market asset issuance, trading, and settlement using blockchain technology. Lucy Rigby, the Secretary for Economic Affairs at the Treasury, announced the formation of the 'Dematerialisation Market Action Taskforce' to supervise the transition from paper-based equity certificates to electronic formats. The government has released the 'Wholesale Financial Markets Digital Strategy' to promote the adoption of blockchain and artificial intelligence. Additionally, a tender for 'Digital Gilt' (DIGIT) has been launched, inviting technology providers to participate in issuing UK government bonds on the blockchain.