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  • 📈 Britain’s Law Welcomes Crypto with Open Arms!

📈 Britain’s Law Welcomes Crypto with Open Arms!

AWS Pours £8bn Into UK Tech Boom!

Author

mohamed mohamed
September 12, 2024

This is Cliff Equity, the UK’s business newsletter that keeps you informed on what’s important in tech, business and finance in less than 5 minutes

In today’s stories:

  • Britain’s Law Welcomes Crypto with Open Arms!

  • AWS Pours £8bn Into UK Tech Boom!

  • £10.5M Investment Sparks tem.'s Green Energy Triumph

The summary: The UK’s new bill officially recognising digital assets as legal property is a game-changer, offering protection for crypto owners and boosting Britain's standing as a leader in the ever-evolving digital economy.

The details:

  • The UK Ministry of Justice has introduced a trailblazing bill to officially recognize digital assets like cryptocurrencies and NFTs as personal property under English and Welsh law, banishing them from their legal limbo.

  • A third category of property is being created, giving digital assets the same status as physical objects and financial claims, while offering protection against fraud and theft for asset owners.

  • Justice Minister Heidi Alexander asserts that keeping up with tech is crucial, as this bill positions the UK as a global crypto leader, attracting more businesses and investment to its lucrative legal services sector.

  • The bill's wide-ranging impact extends from divorce settlements to inheritance disputes, with judges finally equipped to tackle digital asset cases, boosting the UK’s economic and financial standing in the digital era.

Why it matters: The UK's recognition of digital assets as proper legal property is like inviting cryptocurrencies and NFTs to finally sit at the grown-ups' table. By giving these assets real legal protection, it ensures owners aren’t left floundering in fraud or disputes, bringing much-needed clarity. With this move, Britain sharpens its competitive edge, making sure it’s not just keeping pace with the digital revolution but striding confidently at the front.

The summary: AWS's £8bn investment is set to supercharge the UK economy, create thousands of jobs, and help small businesses thrive, all while keeping things eco-friendly amidst the AI boom!

The details:

  • Amazon Web Services is splashing out a tidy £8bn to build data centres across the UK, boosting GDP by £14bn and supporting over 14,000 jobs annually.

  • AWS sees this as a golden chance for small and medium businesses to embrace tech, potentially adding a cool £38bn to the UK economy via cloud computing and AI.

  • While Microsoft and Google are also diving into data centres, the race for AI power could lead to enormous water consumption – experts predict nearly half of the UK’s annual usage by 2027.

  • Fret not, AWS assures us they’re being eco-savvy, with 100% renewable energy powering their UK operations as of 2023.

Why it matters: AWS’s £8bn splurge is set to turbocharge the UK economy, giving jobs a proper boost and tech-savvy businesses a leg up. With AI demand guzzling energy and water faster than a British summer’s worth of Pimms, sustainability becomes more than just a buzzword. Thankfully, AWS is already sipping from the green energy cup, keeping things environmentally dapper while the tech race heats up.

The summary: tem. is giving UK businesses a jolly good deal on renewable energy, slashing bills, and boosting sustainability while ditching the old fossil fuel shenanigans for something a bit more green and clever.

The details:

  • tem. has raised a cheeky £10.5 million in Series A funding, spearheaded by Atomico, with a dash of support from angel investors like the Branson siblings and some Wise tech execs. The goal? To make renewable energy accessible and a tad cheaper for UK businesses.

  • With a platform that connects businesses directly to renewable energy generators, tem. bypasses the middlemen of the traditional energy market. The result? A respectable 25% saving on energy bills and a greener future, all powered by a proprietary algorithm.

  • UK businesses, including none other than Silverstone, are hopping on board, paying less for fully traceable green energy and cutting their carbon footprints. It’s a win for their wallets and a win for sustainability.

  • The UK’s renewable energy sector is booming, and tem. is perfectly poised to surf this green wave, offering transparency, reliability, and cost-saving solutions to help businesses avoid skyrocketing bills and dubious fossil fuel sources.

Why it matters: With tem. shaking up the energy market, UK businesses can finally give the fossil fuels the boot and cut their bills by up to 25%, all while embracing a greener future. Not only does this offer a refreshingly transparent and reliable energy source, but it also helps businesses get their carbon footprint in check without breaking the bank. In short, tem. is making sustainability not just a priority, but a downright savvy business move.