back to article Tech professionals pour cold water on UK crypto hub plans

UK IT professionals have rejected plans by former Chancellor of the Exchequer Rishi Sunak to make the island nation a "global crypo-asset hub." Whether the blueprint survives this particularly turbulent period in British political history – which has seen Sunak resign to be replaced by Nadhim Zahawi, whose tenure may be short- …

  1. Pascal Monett Silver badge
    Thumb Up

    It's starting to come thick and fast

    More and more articles that talk about funny money (and blockchain in general) these days are discouraging its use.

    That's a Good ThingTM.

    So when can we start laws to ban the monster entirely ?

    1. Pascal Monett Silver badge

      Oh, and talk about a slapdown

      From The Economist linked article :

      "This is the politics of fantasy, and you can trace it back to Brexit. In the campaign to leave the European Union Mr Johnson promised voters that they could have everything they wanted—greater wealth, less Europe; more freedom, less regulation; more dynamism, less immigration—and that the eu would be knocking on Britain’s door desperate for a deal. It worked so well that fantasy became the Tories’ organising principle."

      Methinks The Economist deserves extra brownie points for a pointed article.

      Looks like the Remainers were right after all.

      1. Neil Barnes Silver badge

        Re: Oh, and talk about a slapdown

        What do you call it when 'project fear' turns out to have been an accurate prediction?

        1. David Nash Silver badge

          Re: Oh, and talk about a slapdown

          they blame everyone else....the EU, the "remoaners", anyone pointing out the truth.

        2. Oliver Mayes

          Re: Oh, and talk about a slapdown

          "Project Here"

  2. Warm Braw Silver badge

    Meanwhile...

    ... plans for a global crypto-fascist hub will proceed unabated.

    1. Sgt_Oddball Silver badge
      Alien

      Re: Meanwhile...

      I keep hearing that term but I refuse to think Dave Lister would have anything to do with Crypto...

      around the 50 second mark to be exact...

      1. iron Silver badge

        Re: Meanwhile...

        If you recall he didn't want to be a crypto-facist, it was a derogatory term he used to insult others.

      2. GraXXoR

        Re: Meanwhile...

        From the clip it seemed he had absolutely no idea what Crypto Fascist even was... as don't I.

        1. James Anderson

          Re: Meanwhile...

          Just a fancy name for the Running Dogs Of Capitalism.

  3. Mike 137 Silver badge

    "The large majority of IT pros in the UK – about 77 per cent – were not confident ..."

    So all of them were asked? I wasn't - maybe after 40 odd years in the profession I no longer qualify for the title 'IT pro'?

    The size of the sample in relation to the overall population of IT pros is critical missing information (as is also of course whether it was a self selected sample).

    1. Fonant
      Thumb Up

      Re: "The large majority of IT pros in the UK – about 77 per cent – were not confident ..."

      So long as they asked a statistically-significant sample, and the sample was chosen as randomly as possible, the result could be an accurate representation of the population opinion.

      1. Doctor Syntax Silver badge

        Re: "The large majority of IT pros in the UK – about 77 per cent – were not confident ..."

        And was this the case?

        1. Mike 137 Silver badge

          Re: "The large majority of IT pros in the UK – about 77 per cent – were not confident ..."

          " a statistically-significant sample "

          Given the diversity of expertise, culture and age among 'IT pros' this would have to be a very large sample and randomly selected. However most of these institute-based surveys depend essentially on self selected samples as they're presented online. The nature of the questions must also be taken into account as it's very possible to inadvertently bias results.

        2. Brewster's Angle Grinder Silver badge
          Coat

          In search of continuing relevence...

          No. Because they were all BCS members...

      2. Alumoi Silver badge

        Re: "The large majority of IT pros in the UK – about 77 per cent – were not confident ..."

        Lies, damned lies, and statistics.

        Anything else?

    2. RobMo

      Re: "The large majority of IT pros in the UK – about 77 per cent – were not confident ..."

      The article really could have explained this better. It was a survey of BCS professional grade members. I remember replying to it.

      https://www.bcs.org/articles-opinion-and-research/government-s-nft-and-stablecoin-plans-met-with-scepticism-from-tech-experts-survey-finds/

      1. Mike 137 Silver badge

        Re: "The large majority of IT pros in the UK – about 77 per cent – were not confident ..."

        "a survey of BCS professional grade members"

        That is - a tiny and highly self-selected minority of IT proferssionals.

        1. RobMo

          Re: "The large majority of IT pros in the UK – about 77 per cent – were not confident ..."

          Indeed.

  4. elsergiovolador Silver badge

    CBDC

    He is just trying to push overton window and get people accustomed with the idea of CBDC - programmable digital pound. This is one of the pillars of WEF's Great Reset and Rishi is their member.

    It would also be a neat contract for Infosys to do.

    1. Anonymous Coward
      Anonymous Coward

      Re: CBDC

      Antisemitic trope. That's the second time you have posted this bullshit, fcuk off back to the daily fail forums.

  5. that one in the corner Silver badge

    Royal Mint NFT: lese majeste

    Will we be getting images of currency with HRH in different hats and colour schemes: Sad Maj ?

  6. Doctor Syntax Silver badge

    It's all rapidly looking like an idea whose time has gone.

    1. Brewster's Angle Grinder Silver badge

      Presumably these plans will continue if he becomes PM. And he's definitely a stronger contender than Suella Braverman...

      1. elsergiovolador Silver badge

        if he becomes PM

        I can't believe some people are seriously considering this.

        1. Rich 11 Silver badge

          I couldn't believe the last two were serious considerations. Even the one before that was a bit suspect: no previous ministerial experience and, most tellingly, the first Prime Minister in my lifetime to be younger than me! Unsurprisingly he didn't turn out too well.

          Anyway, my opinion on the subject, now or at a general election, doesn't really matter: I have one vote, Rupert Murdoch has several billion.

  7. Howard Sway Silver badge

    Make the island nation a "global crypo-asset hub"

    How on Earth could Tory politicians ever have fallen for such bullshit fantasies and lies, promoted by self-serving con artists, and run so incompetently that millions of pounds vanish with nothing to show for it?

    And how could they have believed in crypto too?

    1. Anonymous Coward
      Anonymous Coward

      Re: Make the island nation a "global crypo-asset hub"

      If there's a difference between Tory politicians and self-serving con artists, I've yet to find it.

      BTW, they haven't fallen for these lies. They are the source of most of them: 40 new hospitals, Brexit is done, an extra £350M/week for the NHS, all the rules were followed, our economy is strong, the tax burden has been cut, I didn't take backhanders, world-beating test & trace, no windfall taxes on energy companies, etc, etc.

      1. Big_Boomer

        Re: Make the island nation a "global crypo-asset hub"

        You forgot "I did not grab that bum", "I did not have sex with an underage person", "I was not watching porn in Parliament", "I have never bullied any of my staff", and ohhhh soooo many more lies. All politicians are liars, but this shower really have managed to raise it to a new level under the tutelage of their Liar-in-Chief.

        1. Anonymous Coward
          Anonymous Coward

          Re: Make the island nation a "global crypo-asset hub"

          You forgot 125000 dead old people in the early months, still on the bright side, saved a pile of cash from the social care budget.

      2. nobody who matters Bronze badge

        Re: Make the island nation a "global crypo-asset hub"

        "......If there's a difference between Tory politicians and self-serving con artists..."

        Why specify 'Tory'. The same applies equally to politicians of every political persuasion at every level (and indeed, worldwide!)

        1. Anonymous Coward
          Anonymous Coward

          Re: Make the island nation a "global crypo-asset hub"

          Hmm, thats just bollocks that tories and "the scum* paper" want you to believe.

          Yes, there are some scum on other sides (see Mann, hoyle, hodge,smeeth,austin), but all Tories are scum.

    2. Chris Fox

      Re: Make the island nation a "global crypo-asset hub"

      A background detail from the Eye: Sunak has a pecuniary interest in a crypto biz. Allegedly there are many other potential conflicts of interests which he does not declare, and has effectively hidden using a loophole in the declaration requirements, while adopting policies that protect and enhance his financial interests, and shower Tory-supporting mates with lucrative contracts.

  8. Snowy Silver badge
    Facepalm

    Sure

    No better time to get into the crypo-train than just before it get derailed.

  9. Anonymous Coward
    Anonymous Coward

    Just how daft can they get?

    This countries governments are so bad at IT there's a book!

  10. GraXXoR

    Buzzword Bingo.

    And on today's marketing buzzword bingo card we have:

    Global Crypto Hub.

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