According to a new Scottish Enterprise report, blockchain technology could attract about £4.5 billion (about $6 billion) of investment in the Scottish economy by the end of the decade.
A report by Scottish Enterprise, Scotland’s national economic development agency, reports that there are now about 60 “blockchain-oriented” companies, 78 institutional investors, and about 120 blockchain technology learning centers in Scotland.
The biggest economic expectations and interest in blockchain adoption are in six sectors: agriculture, manufacturing, healthcare, consumer goods (FMCG), space, energy, finance and education.
The study points out that blockchain technology has prospects for implementation in the entertainment industry, as well as in solutions related to digital property rights management or contracts.
“The main challenges preventing wider adoption and use of blockchain technology in Scotland include regulatory uncertainty and lack of technical knowledge.
And also public perception, where blockchain is often associated with cryptocurrency and can cause negative perceptions because of the association with fraudulent or illegal activities,” the agency said in its report.
In late 2022, a British court permanently banned Liverpool resident Curtis Warren, known as “Britain’s Pablo Escobar,” from owning bitcoins and using messenger WhatsApp.