UK city minister pushes blockchain gilts despite gov’t concerns

Despite resistance from the UK’s Debt Management Office, City Minister Tulip Siddiq pushes for blockchain-based bonds to modernize financial markets.

The United Kingdom’s City Minister, Tulip Siddiq, has advocated introducing blockchain-based gilt, a form of government bond issued via blockchain technology.

The push toward “digital gilts” comes despite the resistance expressed by the UK’s Debt Management Office (DMO), which expressed concerns over the move’s readiness and feasibility.

Proponents argue that adopting blockchain tech for gov’t bond issuance could modernize the UK’s financial markets and enhance the country’s global standing in digital assets.

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Despite resistance from the UK’s Debt Management Office, City Minister Tulip Siddiq pushes for blockchain-based bonds to modernize financial markets.
The United Kingdom’s City Minister, Tulip Siddiq, has advocated introducing blockchain-based gilt, a form of government bond issued via blockchain technology.The push toward “digital gilts” comes despite the resistance expressed by the UK’s Debt Management Office (DMO), which expressed concerns over the move’s readiness and feasibility.Proponents argue that adopting blockchain tech for gov’t bond issuance could modernize the UK’s financial markets and enhance the country’s global standing in digital assets.Read more