UK Lawmakers Call for Govt to Develop Crypto, Blockchain Skills Pipeline

During a Tuesday debate that she presided over as Chair, Lisa Cameron, an Member of Parliament, called upon the government to prioritize teaching digital skills from the foundational levels of education, and even in professional settings.

Despite having a favorable position to capitalize on the expanding digital economy, the U.K. requires significant preparation and investment in education, training, and skills to fully leverage these opportunities and develop a robust talent pool essential for achieving its ambition of being a tech powerhouse, as stated by Cameron in a press release obtained by CoinDesk.

The British government has announced its intention to establish the U.K. as a major player in the cryptocurrency sector. To achieve this, it has passed laws designating crypto as a regulated financial activity. Further regulations specifically for stablecoins and other crypto-related transactions are under development.

For Cameron, there’s a necessity to take further actions. A notable concern raised during her conversations with businesses in the digital industry is their inability to recruit the required talent, as expressed.

Additionally, Cameron advocated for enhanced collaborations with organizations like Ripple, which started a blockchain exploration program for universities in 2018; Circle, which teamed up with educational institutions; and Tether, which unveiled an educational project recently.

The U.K. Minister for Skills, Luke Hall, acknowledged that there’s a significant shortage of digital skills that needs to be addressed. This gap is believed to amount to a staggering £63 billion ($79 billion) annually in economic losses for the U.K.