While blockchain technology is known to have many life transformation benefits, the new technology is still lacking in terms of adoption. Industry leaders and blockchain companies are looking for new opportunities to explore and promote mass adoption. Well, there may be an opportunity because British politics is changing its economy. How does the Brexit agreement benefit the blockchain industry?
Blockchain and Brexit
The financial industry still has a strong interest in blockchain technology because the issue of the withdrawal bill leaves everyone anxious. The entrepreneur in the UK is concerned about trade agreements and borders, since the prime minister has not yet communicated details of the proposal. Some are worried about the cost of trade with the EU, while others are certain that blockchain technology is the solution to all the problems that Brexit will cause for their business.
Several leaders have different things to say about the matter. Humans.net co-founder and CEO Vlad Dobrynin said blockchain technology will play a role in borderless trading, regardless of whether the Brexit agreement influences the border or not. In his words:
"We are about to start the fourth technological revolution, which will happen at the same time that it changes the relationship with people all over the world.The way we interact, buy and perceive things will change.The blockchain technology will reduce the need for borders and eliminate The need for intermediaries Because it is decentralized, no single authority has power over it This new technology will make boundaries useless People will be able to exchange goods and services efficiently, no matter where they are in the world. "
Another industry expert, Neurovalens CEO, Dr Jason McKeown, talked about how restrictive border controls will influence the position of his products based on artificial intelligence. In his words:
"We make our products in Northern Ireland, so this agreement on Brexit will give us problems if it affects borders, what will our exports be like? We produce headphones that help people lose weight This is a product that is universally appealing Our reference market is global.The Brexit agreement raises concerns about how we can reach our market in the EU.To do business with distributors in the EU could become slower and more expensive due to this agreement, we may need to look for offers abroad, although it will not be impossible, it will be difficult. "
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During the negotiations on Brexit, trade, exchange rates and currency were a cause for concern. These problems can be addressed with decentralized Blockchain technology. Industry leaders familiar with the issue are confident that this Brexit agreement will pave the way for mass adoption of blockchain technology and cryptocurrencies. Companies will look to blockchain in an attempt to avoid the challenges associated with the new agreement. When the details of the Brexit agreement are revealed, companies will know how to proceed. It could only provide the perfect environment for the massive adoption of blockchain technology from the UK.