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UK Minister Ignites Chaos by Embracing ‘Blockchain Gilts’ Despite Being Clearly Out of Her Depth

BlockchainCrypto NewsEthereum Kevin Nelson October 5, 2024

A illustration of a city minister (Tulip Siddiq) standing on one side of a seesaw with blockchain gilts represented by blocks floating above her head. On the other end is an older-fashioned gilt market scene with intermediaries, registrars and transfer agents shown as large weights holding down the opposite side of the seesaw. The city minister's face shows determination while the traditional finance instruments appear heavy-laden.

The UK’s city minister Tulip Siddiq is at it again, pushing for blockchain gilts despite the government’s concerns that she’s about as informed on this topic as a crypto bro with a Reddit account. It seems like every other week some politician comes out of nowhere to proclaim their love affair with ‘innovative’ and ‘disruptive’ technology – code words for ‘I have no idea what I’m talking about, but let’s make it sound exciting’. Blockchain gilts are the latest fad in this line of thinking. The UK Debt Management Office is wisely skeptical, citing technical challenges that even a crypto enthusiast like myself can spot from a mile away.

Source: cointelegraph

UK city minister pushes blockchain gilts despite gov’t concerns
https://cointelegraph.com/news/uk-city-minister-pushes-blockchain-gilts-despite-dmo-concerns
The United Kingdom’s city minister, Tulip Siddiq, has advocated for 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 government bond issuance could modernize the UK’s financial markets and enhance the country’s global standing […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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