Blockchain tech set to add £4.5 billion to Scotland’s economy by 2030 – report


Blockchain technology has the potential to contribute some £4.5 billion to Scotland’s economy by the end of the decade, according to a new report.

The projection has been made as Scottish Enterprise launches the first review of its kind into the companies, investors and impact of blockchain that could unlock “new and scalable innovation opportunities” for the digital economy north of the Border. Blockchain works by allowing digital information to be recorded and distributed across a network of computers then stored in blocks that hold sets of data and linked together through cryptography.

There are currently 60 “blockchain centric” companies, 78 Investors, 86 leaders and 33 hubs with a blockchain focus in Scotland with most companies located in Edinburgh, the report notes. Economic opportunities are highlighted across eight sectors – agriculture, manufacturing, health, fast-moving consumer goods (FMCG), space, energy, finance and education.

Suzanne Sosna, Scottish Enterprise director of economic opportunities, said: “This…

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