The UK government plans to launch a trial for issuing blockchain-based gilts in the next two years. Chancellor Rachel Reeves is expected to announce details of this trial during her upcoming Mansion House speech.
This move demonstrates the government's increasing interest in using technology to improve its financial offerings, despite previous reluctance to adopt such innovations. The trial aims to investigate the potential benefits of digital gilts in modernizing the UK's debt issuance process and enhancing efficiency in the financial markets.