The federal government of Gibraltar, a British territory on the southern tip of the Iberian Peninsula, has began a pilot program aimed toward using blockchain know-how to retailer official credentials on its techniques.

In a Tuesday announcement, Her Majesty’s Authorities of Gibraltar mentioned it had partnered with Mexico-based cryptocurrency alternate Bitso and IOVlabs, a startup that develops monetary options primarily based on the Bitcoin (BTC) blockchain, to combine blockchain know-how into its eGov system. The preliminary part of the combination will permit customers to retailer state-issued and licensed credentials on its servers in an effort for residents and placement organizations to have higher entry to public providers.

In line with Albert Isola, Gibraltar’s Minister for Digital and Monetary Companies, officers have already began digitizing authorities providers on the sensible contract community RSK, however plan to step up work on the combination in early 2022. He added that Bitso could be contributing $500,000 in Bitcoin — roughly 9 BTC at a value of $55,000 — to the challenge.

“Gibraltar has efficiently positioned itself as a forward-thinking jurisdiction for progressive companies creating and providing blockchain-related options,” mentioned Isola. “The implementation of blockchain know-how into our processes in partnership with our stakeholders working right here will additional enhance the way in which through which our group interacts with the federal government.”

Blockchain will remodel authorities providers, and that’s only the start

Gibraltar’s Monetary Companies Fee has just lately given the greenlight for crypto corporations trying to conduct enterprise within the British territory, together with Huobi Group’s native arm Huobi Gibraltar offering spot buying and selling providers, and Block.one’s department Bullish Restricted. Many corporations within the house appear to be trying on the territory as a extra favorable regulatory surroundings.