Charles III in favor of blockchain

The new King of the United Kingdom of Great Britain and Northern Ireland, Charles IIIseems to be for blockchain.

Charles III could usher in new developments in blockchain

Although he never seems to have spoken on the subject during an official speech, then The Prince of Wales and heir to the throne i 2019 publicly called blockchain “An interesting development.”

He was inside Berlin and met a small crowd in the street.

One of those present asked him what he was thinking Bitcoinand then what he thought of blockchain.

To the word Bitcointhe prince did not react, probably showing that he was not familiar with the main cryptocurrency, but with the word blockchain he responded by saying he thought it was an interesting development.

A video of the incident was also taken, which was later posted on YouTube:

It is not known exactly what he thinks about it now that he has become Kingbut Charles has always shown an interest in new things, especially in alternative solutions to the mainstream.

For example, he has always been an advocate of alternative medicine, at the risk of his positions being considered controversial.

However, it must be said that over the decades he seems to have reduced his positions that were considered more extreme, and now that he has become king it is difficult for him to advance positions that are clearly far from the mainstream.

Given that the King in Britain does not reign, and therefore can influence the country’s politics only very marginally, he may well continue to cultivate alternative ideas in private, without influencing any mainstream politics in any way. However, his public positions carry weight, especially when it comes to consensus, so it will not be easy for him to maintain the more extreme positions, except possibly in private.

This is also because the British monarchy has suffered several setbacks in recent decades, so much so that the debate about its survival is resurfacing in waves.

The risk of holding non-mainstream public positions may be to antagonize the bulk of the population, thereby risking losing so much support that the very survival of the monarchy, as long as he is king, is at risk.

In light of this, it is hard to imagine him re-exposing himself on matters still considered hot topics such as cryptocurrencies, while it is more likely that his statements will become increasingly institutional and pro-government.

For now, the UK’s policy strategy regarding cryptocurrencies and blockchain is open but not particularly permissive.

That is, the country wants to play a major role in Europe in the crypto industry, especially by taking advantage of the stock exchange’s dominance on the continent over others. So it is certainly interested in crypto markets, but on the other hand, the British authorities have repeatedly raised concerns about the risks generated by opening these markets too much to investors and amateur speculators who risk losing money due to sheer incompetence.

There was a time, until a few years ago, when London was one of the crypto capitals of Europe, but over time, Switzerland took much of the attraction away from the UK, precisely because it was a bit more permissive and less focused on protecting amateur investors.

In addition, other crypto hubs have emerged around the world, including Dubai, so London’s role in the crypto sector in recent years has diminished somewhat.

Blockchain in the UK is gaining momentum

The country seems to be more interested in the technological development, viz blockchainwhich would be proven by Prince Charles’s response in 2019. But without cryptocurrencies, blockchain might not have much of a future, so to get a big role in the blockchain sector, one has to play a big role in the crypto markets as well.

It is worth noting again that the actual political power of the King of Great Britain is minimal, so it is highly unlikely that any support from him for the development of blockchain will have significant political consequences in the country. However, in the event that he instead succeeds in increasing his people’s acceptance of these technologies, the impact may be minimal. But it is still unlikely that he can actually do so now that he has become king.

There is another important political news in the UK. Very few days before she left, the previous one Queen Elizabeth II appointed a new Prime Minister, Liz Truss.

Four years ago, Truss explicitly wrote on his official Twitter profile that Britain should embrace cryptocurrencies in a way that would not limit their potential.

We should welcome #cryptocurrencies in a way that does not limit their potential. Free up areas of free enterprise by removing regulations that limit prosperity. #PolicyExchange #futureoffreedom #shakeup

— Liz Truss (@trussliz) 30 January 2018

It is worth mentioning that 2018 was still when London had a special role in Europe in the crypto sector, although things have changed since then.

It is not known what Truss thinks about it now that she has become Prime Minister, but given her liberal and liberalist background it will be expected that she has not changed her mind on the matter.

In short, the new UK political course could be beneficial for the crypto world, as long as it does not get in the way of government authorities who have been skeptical of it until now.