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The UK Government Approves the world leading Electronic Trade Documents Bill

The Electronic Trade Documents Bill was passed by the House of Lords on the 13th of October 2022. The key takeaway from the new bill is that the UK government can now adopt a paperless and digitalized strategy where all government documents can be stored and traded using the Blockchain. Electronic documentation will now be legally recognised in the UK. This move will reduce carbon emissions and also improve security by making everything more traceable.

Not only is this good for the planet - it paves the way for UK organisations to follow suit and for wider blockchain adoption. The move not only gives recognition of the benefits of using blockchain but also gives a sense of approval from a recognised institution. This spells good news for everyone interested in the Web3 space and is a further step in the UK's goal to be a global hub for all things Web3, aiming to become a blockchain and Crypto powerhouse.

"The U.K. was central to establishing the international trade system in the nineteenth century and we are once again leading the world to boost global trade in the twenty-first century," U.K. Digital Secretary - Michelle Donelan.

The UK is often ahead of the curve and is a trendsetter for the rest of the world, therefore it is no surprise that this bill is one of the first of its kind. We hope that the UK keep will this technology-driven open-minded approach going forward and remain at the forefront of Web3 innovation.

Want to learn how to digitalise your documents on the Blockchain? Get in touch.


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