Gibraltar Government Systems Will Integrate Blockchain Technology

The Government of Gibraltar is integrating blockchain into its processes to facilitate interaction with individuals and businesses.

Initially implemented as a simple pilot project, the integration of blockchain into Gibraltar government processes is expected to improve the delivery of public services to individuals and organizations residing or operating in Gibraltar. This solution will be built on top of Gibraltar’s e-government system, with an initial focus on storing various government and certified documents for citizens.

The Government of Gibraltar is integrating blockchain into its processes

This integration pilot project will be led by the government in partnership with Bitso, a country-run crypto platform, and IOVlabs, the team behind the RWe blockchain. The two companies have been partners for a long time, especially in the DLT sector. According to Albert Isola, Minister for Digital and Financial Services, “Gibraltar is successfully positioning itself as a ahead of its time jurisdiction to develop innovative businesses and offer blockchain-related solutions. Incorporating blockchain technology into our processes, in partnership with our investors who work here, will further improve our community’s interaction with the government. We have already begun the digitization of many of our departments, having introduced an e-government system a few months ago. I am confident that the RWe blockchain will provide a solid foundation,

to facilitate interaction with individuals and businesses

IOVlabs will offer technical expertise on this initiative and will work with the Gibraltar Digital Services team. For its part, Bitso is a crypto platform under the regulatory framework of DLT providers. She is investing about $500,000 in bitcoins in the project. For Daniel Vogel, co-founder of Bitso, this new adventure was clear: “At Bitso, we believe that the private and public sectors can work together to create important crypto and blockchain solutions. We are proud to be working with the Government of Gibraltar to improve the use of blockchain technology across vital industries.” The same story with IOVlabs as told by its CEO Gutiérrez Zaldivar:

In recent years, Gibraltar has positioned itself as the jurisdiction of choice for some of the world’s largest blockchain companies. Always at the forefront of innovation, in January 2018 Gibraltar became the first country to pass a Distributed Ledger Act (DLT). After updating the regulatory framework at the end of 2020, the government announced the creation of a new working group responsible for creating market standards for exchanges operating in the digital asset space.