The Gibraltar Government yesterday launched a Blockchain focused trade association that will look to drive forward the Rock’s approach to Distributed Ledger Technology.
The Gibraltar Association for New Technologies (GANT) will establish formal lines of communication between policy makers and the private sector in Gibraltar’s fast developing blockchain industry.
Additionally, the trade association will help facilitate the exchange of knowledge and ideas, with a view to enhancing public trust in this sector.
The Minister for Commerce, Albert Isola, said: “The Gibraltar Association for New Technologies will represent the views of the ever evolving DLT landscape here in Gibraltar and will be a vital component in the continued growth of the sector.”
“This forum will allow the blockchain community to become more closely aligned with the traditional financial services sector here and give confidence to the firms operating in Gibraltar that we are committed to working collaboratively on regulatory and other matters of interest.”
According to a Government statement, GANT will strive to promote high standards of professional conduct within the blockchain sector in Gibraltar as well as further the reputation of the jurisdiction’s finance industry on the international stage.
They will work closely with the Government, the Gibraltar Financial Services Commission and the University of Gibraltar to ensure the development of a strong and sustainable industry, including the delivery of educational programmes that will help advance a core understanding of the underlying technologies supporting the sector.
Applications for membership of GANT will be welcomed from firms who have received or have applied for a DLT licence in Gibraltar, as well as ICO firms, auditors, lawyers, and consultancy firms servicing these industries, full details can be found in the constitution.
The association intends to build on the strong working relationships that exist between the regulator, the Financial Services Commission, and the DLT Working Group that oversaw the development of the DLT Regulatory Framework, introduced in January of this year.
Members will collaborate to keep each other apprised of future policy and regulatory matters.
The Association’s Chairman designate, David Parody, said: “These are exciting times for Gibraltar. A whole new industry is taking off now that the first DLT licences have been granted by the Financial Services Commission.”
“As an association we want to ensure that we create an effective and collaborative forum for the discussion of key issues.”
“It’s also incumbent on us that we provide efficient gateways to policy and decision makers so that practical and effective solutions are arrived at.”
“Similarly, we want to build the knowledge base across the entire sector, from experts to blockchain beginners, which is why educational outreach will be a key objective for the association.”
An initial meeting of GANT will be held at Thursday November 29, 2018 at 10:00 at the office of Gibraltar Finance, Suite 761 Europort, Gibraltar, during which the submission of membership application forms and committee nomination forms will be discussed.