In January 2025, the UK government announced the ‘AI Opportunities Action Plan’ to act as a roadmap and guide the country in utilising the technology most efficiently. This is an absolute must, given that we are still in the nascent stages of AI’s use, and it is likely the best is yet to come. However, this does not mean abandoning the development of other technologies. One such technology that has arguably fallen to the wayside as a result of AI’s hype is blockchain.
To ensure this does not take place, a new letter has been written to Varun Chandra, the Prime Minister’s business and investment special advisor, signed by the UK Cryptoasset Business Council (UKCBC), techUK, Global Digital Finance, The Payments Association, Digital Currencies Governance Group (DCGG) and Crypto Council for Innovation. Advancing the blockchain and digital asset sectors is a necessity, and the letter reasserts the reason for this.
The letter opens by describing the signed parties’ impact on the economy, stating, “our members drive trillions in market value, contribute billions to the UK economy, and create thousands of highly skilled jobs nationwide.”
It also sets the global scene for blockchain development, noting how Trump’s election has catalysed the development of the digital sector. In fact, the Digital Chamber, formerly The Chamber of Digital Commerce – an American advocacy group that promotes blockchain and digital asset technology, recently published a US Blockchain Roadmap. Similarly, other countries around the globe are also making strides in the sector, with the letter highlighting the governments’ efforts in the UAE, Hong Kong and Singapore.
Ensuring the UK remains competitive
Setting the scene for digital assets, the letter reveals that blockchain could boost the economy by £57billion over the next decade. To achieve this potential, the companies explain that there are four key points that must be considered.
The UK needs a blockchain envoy
“This role would drive policy alignment, foster innovation, and send a strong signal to global markets that the UK is committed to remaining globally competitive.” The letter also states that currently blockchain is used across multiple verticals, including finance, healthcare and more. Consequently, governing it can be tricky as no sector has clear ownership. An envoy would solve this issue and “ensure a cohesive approach that balances regulation with growth” in every sector.
Taking the AI approach with blockchain
There has been a lot of hype surrounding AI, and as a result, it has also taken up a lot of government attention. At the start of the year, the UK government announced its ‘AI Opportunities Action Plan‘ in which it detailed how the technology is going to be developed in the country.
The letter calls for a similar approach to be taken with blockchain and digital assets, putting an emphasis on the impact an action plan would have on attracting investment.
Working with other technologies
The letter also makes clear that the UK’s digital asset and blockchain sector will not be able to compete with that of other countries if they are looked at in isolation. It notes that in order for blockchain to reach its true potential, the government must acknowledge the synergy between quantum computing and AI.
It reads: “These disciplines offer distinct capabilities that, when integrated, will profoundly influence the future landscape of technology, finance and defence. This convergence holds the key to tackling societal challenges, while ushering in unprecedented levels of innovation and productivity.”
A high-level industry-government-regulator engagement forum
The final major recommendation spotlighted in the letter was to ensure there was a high-level industry-government-regulator engagement forum. The government’s understanding of the technology will always lag behind that of the experts. However, by consulting and collaborating with the industry, the government would position itself in a way that it could keep ahead of emerging trends and changes that take place.
How helpful is this sort of letter?
With the letter concluding that the UK is in a prime position to capitalise on the blockchain boom and ensure it has a concrete position as a leading hub, we set out to find out if this letter was enough to move the government to take action and if so, how feasible it would be.
Eva Lawrence, head of EMEA, Figment, a blockchain infrastructure provider, focuses on the importance of working with all technologies together, as highlighted in the letter, saying: “As head of EMEA for Figment, a company deeply involved in the UK digital asset space, I think it’s absolutely essential to call on the government to treat blockchain with the same strategic focus it has given to AI.
“We’ve seen how a clear policy framework, regulatory sandboxes, and cross-departmental coordination have helped AI thrive—blockchain deserves the same focus if we want to remain globally competitive.
“What makes this even more critical is that blockchain isn’t just a single sector—it’s foundational infrastructure that touches finance, supply chains, identity, and beyond. Without better cross-sector collaboration, we risk fragmentation and missed opportunities. We need structured forums, shared standards, and strong public-private partnerships to ensure blockchain innovation translates into real economic impact for the UK.”
Working together is a recipe for success
Sharing views on the importance of collaboration, Alessandro Hatami, managing partner of Pacemakers, a consultancy specialising in digital transformation in finance, said: “The recent letter to Varun Chandra rightly highlights the untapped potential of blockchain and digital assets for the UK economy. The call for the government to apply the same strategic focus to blockchain as it has to AI is not only reasonable — it’s essential. Both technologies are transformative, but blockchain remains under-leveraged in the UK due to fragmented policy, lack of regulatory clarity, and insufficient coordination across sectors.
“As the letter points out, better cross-sector collaboration is critical. Blockchain’s true value emerges when diverse stakeholders — from financial services and regulators to academia and startups — work together. This collaboration can only happen if the government steps up as a catalyst, providing a clear policy framework and helping to build trust between innovation and oversight.
“The UK has an opportunity to lead globally in responsible blockchain innovation. To do that, it needs a national strategy similar to what’s been mobilised for AI — one that includes a dedicated taskforce, industry engagement, and policy alignment. If we fail to act, we risk losing talent, capital, and influence to more agile jurisdictions. This letter is a timely call to ensure blockchain becomes a pillar of the UK’s future digital economy.”
