Incorporating blockchain into public and private sector systems could add £57bn to UK GDP over the course of the next decade, as authorities and businesses transform the way they operate in the wake of the pandemic.

Globally the benefits of using blockchain technology could reach $1.7tn (£1.3tn), a 13 October study by accountancy firm PwC found. China and the US would take the lion’s share of this boost at $440bn and $407bn respectively.