Gibralter’s Blockchain Sector Receives Major New Association
Gibraltar is taking the lead after forming an association specifically dedicated to improving the sector.
New Team To Propel Gibralter’s Blockchain Sector
The Gibraltar Association of New Technologies has officially been unveiled. The formation of the association was announced on Tuesday by the government. The body’s main aim will be to spearhead the country’s incorporation of Distributed Ledger Technology.
The team will work as a link between authorities and the private sector to set up blockchain technology. In addition, the association has been tasked with disseminating relevant knowledge to ensure that citizens have full faith in the platform. GANT seeks to achieve this mandate by observing quality standards in a professional manner within the country’s blockchain industry. Furthermore, the team will play a role in marketing the country’s financial sector to the world.
It will closely collaborate with HM Government of Gibraltar, the financial sector regulator and the UoG. All parties will put their heads together to set up a strong industry that sustains itself in the future. The development team will also be charged with circulating educational programs that will push the understanding of the technologies underpinning the sector.
According to the country’s minister in charge of finance, the association will be in charge of a blockchain technology that is always changing. Albert Isola said that the association will also look into the innovative sector of the technology. Isola said that GANT will bridge the gap between the traditional financial system with blockchain in return promoting investor confidence.
To become part of GANT, members who have shown interest in or are already operating on DLT licences within the country will be free to request membership in the association. Additionally, ICOs, among other parties are open to submit their applications.
To have a smooth operating environment, GANT plans to establish a good relationship with the Financial Service Commission and other blockchain groups within the country. Groups that took part in the establishment of DLT regulations early this year will also be a target of GANT.
David Parody who was appointed as GANT chair stated that the blockchain industry is destined for greater things in the wake of the first DLT permit issuance by the FSC. Parody said that they want to establish an effective environment where teams can work together smoothly and find solutions to critical issues. He added that they want to set up a known reference point for the industry targeting all parties.
The association is slated to meet for the first time towards the end of next month. During the session, interested parties will be required to hand in their applications. A committee will be established to look into the applications.