Britain has an opportunity to be the world leader in the emerging blockchain technology space according to Scott Nelson, the head of supply chain/logistics specialist Sweetbridge Alliance.
The UK’s Financial Conduct Authority has already launched a global regulatory sandbox for fintech companies.
This allows them to test products under controlled conditions without going through the full regulatory process.
The aim is to fast-track new technologies that will benefit consumers and businesses and Nelson believes the UK is in a prime position to take over capital formation around the world.
“Brexit has created a burning platform that has made Britain open to things it might not have been previously,” he told Proactive.
“There is a growing awareness that this [blockchain] technology is a way of generating a tremendous amount of economic growth and activity if done properly.
“London can be the centre of all of the activity that is going on.”
New world order for logistics
Nelson, who was in London to promote Switzerland- based Sweetbridge’s token crowdsale, said he has been lobbying authorities in the US to establish a similar-style sandbox.
The supply industry veteran has serious ambitions for the not-for-profit entity and sees Sweetcoin as a way of releasing the huge value trapped within the US$54trn global trade system.
He points to the US$27trn held in current assets around the world.
“Our protocol enables us to take the value an asset has and convert it into another class that is stable and liquid.”
That will enable businesses (and people) access to low cost or zero-interest loans without having to borrow from an intermediary such as a bank or government.
Rather than a cost, a freight company, for example, can use its debtor balance to lend and be rewarded through earning additional coins in the Sweetbridge network.
“Using blockchain, you can even borrow from yourself.”
Sweetbridge’s programme has five protocol layers, all of which come with their own set of rules and procedures with rewards for growing the network.
Nelson says models run already for several major logistics firms have pointed to a 20-30% uplifts in equity value.
A lot of interest is now being shown by banks, corporations and also countries, he adds.
Sweetbridge aims to raise US$65mln from the current token sale, details of which are available at https://sweetbridge.com/crowdsale.