Former Prime Minister of the United Kingdom praises the potential of Blockchain
Blockchain technology continues to show its promise while capturing the interest of prominent political figures, including former UK Prime Minister Boris Johnson.
More often than not, blockchain can be confused with cryptocurrencies, given that it serves as their technological foundation. However, they can operate as separate technologies with blockchain serving their own distinct purpose and functionality.
In accordance GuardianJohnson was effusive in his praise for blockchain at an industry conference, noting that it opens up various possibilities.
“In his speech, the former prime minister suggested blockchain was full of possibilities and appeared to compare it to major technological innovations such as the invention of fire, railways and the internet,” The Guardian reported.
Johnson’s comments came after the recent collapse of cryptocurrency exchange FTX. Given this, Johnson said in the Guardian Report that regulation in the crypto world is necessary and supporters of digital currencies “need to convince people that their use cases are real and work for them in their lives, as opposed to this being about speculation and a new kind of financial market or instrument.”
A growth ETF opportunity in Blockchain
Johnson’s comments regarding blockchain’s possibilities can be encapsulated in an investment opportunity. Take a closer look at Amplify Transformational Data Sharing ETF (BLOK).
BLOK has an active management strategy that can flex with the market’s movements by placing the holdings in the hands of experienced portfolio managers. BLOK adds diversified exposure and cryptocurrency exposure without investing in the currencies themselves.
Given blockchain’s growing use overseas, global exposure adds a touch of diversification to portfolios. BLOK is doing just that by looking at opportunities outside the US
While the majority of the fund (75%) contains holdings in North American-based companies, the fund also diversifies with holdings in Western Europe and the Asia-Pacific, investing in companies that use and develop blockchain technology, the technology behind cryptocurrencies such as bitcoin. This means that the fund can gain exposure to growth opportunities abroad where this technology can be fully exploited.
Per its product websiteBLOK Features:
- A global equity portfolio of professionally selected companies involved in blockchain technology and indirect crypto exposure.
- An active management approach that can enable the fund to remain flexible, make timely decisions and identify companies best positioned to profit from the evolving blockchain technology space.
- The convenience and transparency of the ETF structure.
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