The government of Gibraltar announced a project to integrate blockchain technology into its legacy systems in order to improve the delivery of its public services, according to a press release on Tuesday.
- The pilot project is being undertaken with the support of Latin American crypto exchange Bitso and RSK blockchain developer IOVlabs. RSK is the smart contract platform of Bitcoin.
- The government wants to build on the existing functionality of its â€œeGovâ€ system, which is used as a digital platform for accessing public services, according to the announcement .
- The project may help demonstrate the advantages of using the blockchain technology 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 businesses to obtain licenses, with platforms, such as eToro regulated by the Gibraltar Financial Services Commission. Recently Chinese crypto exchange Huobi Global moved its spot trading services to Gibraltar after crackdowns in its native country.
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CORRECTION (DEC. 8, 05:20 UTC):Â Corrects spelling of IOVlabs throughout.