The UK Financial Conduct Authority (FCA) issued an official press release on August 7 stating that the agency has announced the creation of a global plan to improve the financial technology innovation of regulators and companies (such as Blockchain) cooperation. FCA stated that the new alliance, the Global Financial Innovation Network (GFIN), will cooperate with 11 financial institutions and related organizations to help financial technology companies more easily interact with regulators from different countries. According to news reports, GFIN’s goal is to consult on the development of technologies such as distributed ledger technology and artificial intelligence (AI), as well as the regulation of securities and initial coin offerings (ICOs). Christopher Woolard, FCA board member and executive director of strategy and competition, said at a press conference that the creation of GFIN will help organizations "manage potential hazards while also bringing consumers the benefits of financial service innovation." The new alliance was launched earlier this year and is part of the successful implementation and development of the FCA global financial regulatory sandbox. A report released in July by the Big InnovaTIon Centre, DAG Global and Deep Knowledge AnalyTIcs stated that by 2022, the UK will become a leader in blockchain technology and the cryptocurrency economy. Rayhot Technology Group Co.,Ltd , https://www.cnrayhot.com