Gibraltar‘s government is looking to connect public and private sectors through blockchain technology.
Officials have already begun digitizing government services via the RSK smart contract network, but they expect to ramp up their efforts in early next year.
Gibraltar’s government has launched a pilot initiative to use blockchain technology to keep official credentials on its networks.
Gibraltar is a British enclave near the southern tip of the Iberian Peninsula.
Adding blockchain into the mix
Her Majesty’s Government of Gibraltar stated Tuesday that it has partnered with Bitso, a Mexico-based cryptocurrency exchange, and IOVlabs, a startup that develops economic services depending on the Bitcoin (BTC) blockchain, to incorporate blockchain technology into its eGov network.
In the first phase of the integration, customers will be able to store state-issued and certified credentials on the company’s servers, allowing residents and local groups easier access to government services.
Officials have already begun digitizing government services on the smart contract network RSK, according to Albert Isola, Gibraltar’s Minister for Digital and Financial Services, but expect to ramp up work on the integration in early 2022.
Bitso will provide $500,000 in Bitcoin to the initiative, which is around 9 BTC at a price of $55,000.
https://www.youtube.com/watch?v=4AtcJMooQP0
Improving community-government interaction
“Gibraltar has earned a reputation for being a forward-thinking jurisdiction for innovative businesses developing and marketing blockchain-related products,” Isola said.
“By incorporating blockchain technology into our operations in collaboration with our stakeholders here, we will be able to improve the way our community interacts with the government even more,” Isola added.
The Financial Services Commission of Gibraltar recently granted permission for crypto firms to operate in the British territory, including Huobi Group’s local subsidiary Huobi Gibraltar, which provides spot trading services, and Block.one’s affiliate Bullish Limited.
Many enterprises in the space appear to view the area as having a more favorable regulatory climate.
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