techUK proposes trusted digital IDs to power UK’s £100B digital asset boost

techUK has published a new strategic roadmap urging the adoption of trusted, reusable digital identities to combat fraud and enable secure transactions across the UK’s digital asset economy, which is projected to reach £100 billion ($134 billion) in annual tokenized asset trades by 2030.

The “2030 Vision: A Roadmap for Building a Digital Assets Economy” report describes how the UK can become a leader in blockchain and digital asset innovation. It forecasts that one fifth of commercial real estate and private funds will be tokenized by the end of the decade, and points to the urgent need for identity-anchored systems to tackle fraud, especially as £51.3 billion ($68.8 billion) in illicit crypto transactions were recorded in 2024.

UK Prime Minister Keir Starmer’s proposal for a mandatory national digital ID in the form of credentials stored in the GOV.UK One Login app has touched off a wave of criticism and concern. Some of that criticism is based on the presence of the DIATF as an established system for digital IDs issued by the private sector.

techUK’s plan outlines a phased approach beginning with the development of foundational infrastructure, including a comprehensive national strategy, expansion of the Digital Securities Sandbox (DSS), and preparations for emerging quantum security risks. DSS facilitates the use of distributed ledgers in the issuance, trading and settlement of securities in the UK.

In the next phase, the focus shifts to scaling efforts through the introduction of a UK-native stablecoin framework, a national tokenization strategy, and targeted investment in digital asset talent and education. In its final phase, the roadmap leads to the UK leveraging its international reputation to shape global standards for digital assets, programmable finance, and fraud prevention, while forging strategic partnerships to enable trusted cross-border corridors.

The roadmap sets out a policy imperative for the UK to act decisively, so that it can not only keep pace with innovation but to define it. Digital identity verification firm Umazi hailed the findings, calling the roadmap a crucial step in building trust in a decentralized financial future.

“The UK is on the edge of a digital revolution that could make us global leaders in blockchain and digital assets,” said Umazi CEO Cindy van Niekerk. “If we harness our strengths in financial services and innovation, we can shape decentralised technologies that define the next generation of trusted transactions.”

techUK envisions digital identity and verification powering a resilient digital asset ecosystem. Umazi’s decentralised corporate identification platform enables reusable, verifiable business identities that support secure programmable finance, payments, and fraud prevention.

“Building trusted digital infrastructure with verified participants is not optional, it is foundational,” van Niekerk added. “Decentralised digital identity will soon be commonplace, cutting onboarding friction, reducing identity fraud, and paving the way for automated compliance.”

She emphasized that Umazi’s mission aligns closely with techUK’s call for “trusted corridors” to facilitate secure digital asset transfers. “Reusable KYB and KYC technologies, built on decentralised identity frameworks, will be critical in fighting data leaks and fraud. Umazi is already driving this practical adoption across finance and beyond.”

Article Topics

digital economy  |  digital identity  |  fraud prevention  |  reusable digital ID  |  techUK  |  UK  |  Umazi