I’ve been calling for months for Rishi Sunak to drop his plan for a Government non-fungible token – unique digital collectables, like drawings or music, that exist on blockchain technology – and now he’s finally listened! I was one of the first to criticise this vanity project and strongly opposed the continuance of this unsustainable fad and as I told the Guardian, I am pleased that the Royal Mint finally rejected the crypto gimmick.
As I say here, the Government shouldn’t have been wasting taxpayers’ money on this in the first place during a cost-of-living crisis. Under the Tories, millions of people’s savings have been put at risk by the collapse of cryptocurrencies and the surge in scams. We need a new approach that considers the positive uses of blockchain technologies.