The effects of last Thursday's momentus referendum result will take many months and years to become clear. While markets and currencies fluctuate, uncertainty also reigns in less obvious arenas, not least the innovation space.
Uncertainty over the future regulatory environment may have a chilling effect on blockchain development in London. Regulators may be less inclined to devote resources to safe spaces that enable innovation, and financial institutions may wind-back their development work, distracted by protecting their core business.
On the other hand, Brexit may pose opportunities. Nimble operators may be able to take advantage of any inertia in their competitors, and in the long-run - there is no reason to suspect that UK regulators will wind-back from their desire to lead in the innovation space.
Friendly regulatory policies were rapidly turning London into a capital for blockchain innovation, that is until last week’s decision by the UK to leave the European Union left some wondering if this market position will be impacted.