The Government of Gibraltar has officially announced its appointment as an observer member of the Global Blockchain Business Council, or GBBC. He will work with blockchain industry leaders from more than 50 countries.
According to the announcement, Gibraltar expects to promote adoption in the UK’s overseas territory and will consult widely on topics such as regulation and education with business leaders and legislators to make the country “blockchain friendly”.
GBBC was launched in Davos in 2017. The philosophy is ‘educate, protect and collaborate’ to promote blockchain adoption in member countries.
Supervisor. Albert Isola, Gibraltar’s Minister of Digital and Financial Services, said GBBC’s vision to further develop blockchain technology by “engaging and educating companies and regulators is fully aligned with our own mission.”
In January 2018, the state passed the Distributed Ledger Technology Act, or DLT. In September, he updated the rules to include the latest rules from the Money Laundering Financial Action Task Force. Gibraltar also announced earlier this year that it had joined INATBA, another blockchain-related group of industry leaders in the European Union.
Sandra Rowe, CEO of the Global Blockchain Business Council, commented on the announcement:
The Global Blockchain Business Council welcomes the Government of Gibraltar into our global network as an observer member of GBBC. We look to shine a light on critical digital assets, blockchain technologies and innovations from Gibraltar while encouraging global collaboration, adoption and opportunities. “