Gibraltar intends to integrate blockchain into government systems

Briefly:

  • The Gibraltar government will implement the blockchain on the basis of bitcoin in the state apparatus
  • The partners of the project are the Bitso exchange and the developer RSK IOBVlabs
  • In the first step, participants will be able to store certified accounts on private servers

Finance Minister Albert Isola of the Gibraltar Territory announced the upcoming changes in the state system. In particular, the government of this territory intends to integrate the blockchain in order to facilitate communication between representatives of the private sector and government agencies.

The pilot project will be implemented with the support of the Latin American crypto exchange Bitso. The software will be developed by RSK IOBVlabs.

According to the minister, the authorized persons have already begun to digitize the official document flow. In addition, Bitso contributed 9 BTC (591 for the further development of the project.

At the initial stage, the pilot project will allow citizens to store government-issued and certified accounts on private hosting servers. In theory, this will significantly simplify access to open data for social and public organizations, as well as departments.

The authors of the project expect that it will demonstrate the benefits of blockchain as a means to simplify document flow and government processes.

“Gibraltar positions itself as a forward-looking jurisdiction for innovative companies that design and implement various projects in the field of blockchain. Integration of this technology will make it easier for our community to communicate with the state apparatus, ”the minister commented.

Unlike the UK, which changed course towards tight regulation of the crypto sector, Gibraltar does not intend to waste such potential.

Huobi Global is an example of this. This crypto exchange set up a spot trading office here following a wave of censorship in the PRC.

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