The pilot project is being carried out with the support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. of exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Bitso y el desarrollador de Blockchain RSK IOBVlabs, both Latin American.
The government of Gibraltar has announced a project to integrateBlockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. in its utility management systems, according to a press release today.
The implementation, which will initially be implemented on a trial basis, is expected to improve the delivery of public services to individuals and organizations residing or operating in Gibraltar. The focus of the initial phase (which will commence in early 2022) will be to enable users to store certified, government-issued credentials.
The pilot project is being carried out with the support of the Latin American cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange Bitso and the blockchain developer, also Latin American, RSK IOBVlabs.
The government’s goal is to take advantage of the existing functionality of its system by“eGov“which is used as a digital digital technologies are these electronic tools that have the ability to generate, store or even process data. platform a place to buy, sell and store cryptocurrency to access public services, according to the announcement. The project can help demonstrate the advantages of using technology to access public services.Blockchain to improve the speed and efficiency of government processes and public interactions.
Over the years, the British Overseas Territory has established itself as a friendly environment for crypto companies to obtain licenses, with platforms likeeToro regulated regulation is when something is controlled by a specific set of rules. by the Gibraltar Financial Services Commission. Recently, the Chinese cryptocurrency exchangeHuobi Global moved its spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. trading services to Gibraltar after the crackdown in its home country.
Help from Latin American companies
The pilot integration project will be carried out by HM Government of Gibraltar, which has been working closely with two companies.Bitsoa cryptocurrency platform born in Mexico, which operates in several Latin American countries, and that has Gibraltar license from 2019 , e IOVlabsthe team behind the blockchain RSKwho was born in Argentina.
Both firms have long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. supported and contributed to Gibraltar’s work in the DLT sector, says the press release. The government has developed a close refers to the closing price; similar to the same term used in stock trading. working relationship with these companies over time and values their advice.
Gibraltar’s Minister for Digital and Financial Services, Albert Isola MP, said: “Gibraltar has successfully positioned itself as a forward-thinking jurisdiction for innovative companies developing and delivering Blockchain-related solutions. Implementing Blockchain technology into our processes in partnership with the stakeholders who work here will further enhance the way our community interacts with government.”
Bitso will donate to this project approximately USD $ 500,000 and according to the nature of the industry will originate the payment to the technology provider in bitcoin.
In this regard, the co-founder ofBitso, Daniel Vogel, present:“At Bitso, we believe that the public and private sector can work together to create profoundly impactful crypto and blockchain-based solutions.”
For his part, Diego Gutiérrez Zaldívar, of RSK, said:“We are delighted with the opportunity to collaborate with the Government of Gibraltar in implementing blockchain technology to create a new paradigm of government interaction with citizens and organizations that will reduce costs and bureaucracy while increasing automation and trust.”