Blockchain technology has been damned as nothing but hype and devoid of any meaningful use case at a select committee meeting in Westminster.
On Wednesday UK MPs met in Portcullis House near the Houses of Parliament and questioned various experts on the utility of blockchain technology.
The policymakers demanded examples of blockchain's effectiveness in solving problems in different parts of the world and sought to know what the UK could learn from this innovation.
The House of Commons Science and Technology Committee on Blockchain was told that the technology is "rather simple" and provides a solution to things that were never a problem in the first place.
Technology journalist and author David Gerard outlined the actual potential of the technology that has been hailed as the foundation of web3.
"Blockchain technology provides security for things that don't need securing and are not a problem and a lot of the innovation started from the technology and then they sought to find...
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