Isle of Man Launches Digital Currency Startup Incubator
A group of Isle of Man businesses has launched an incubator for digital currency startups. Six companies, ranging from an accountancy firm to a broadband provider, now offer free or discounted services for startups working on bitcoin or other digital currencies. The incubator launch follows the island government's announcement that it would seek to regulate digital currencies in a way that is favourable for companies working with the technology. To that end, the government is working on legislation that would be included under existing laws. Open to all. The digital currency incubator,....
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Hot on the heels of the news that the Isle of Man's Department of Economic Development would be bringing about plans to help protect businesses and consumers who use digital currencies, is word that six businesses on the island are forming a incubator for start-ups in the digital currency space. These companies range from an accountants' office to an internet service provider, according to CoinDesk, who will be offering either free or discounted services to these start-ups in effort to help spur innovation. The incubator is reportedly open to all, with start-ups working in the digital....
The second country that we will take a closer look at is the Isle of Man. The Isle of Man is nestled between Ireland, England,Wales and Scotland. It has been a haven for online gambling companies for a couple of years now. However The Isle of Man is looking toward the future like an open minded country should. There has been quite a storm about the Isle of Man’s decision to become a “pro digital currency”. Some have condemned this choice, while others applaud the innovative aspect and calling this step a “historical” one for digital currencies and Bitcoin in particular. To celebrate and....
The Isle of Man government has welcomed GreenCoinX, an identifiable cryptocurrency which is 80 percent owned by Toronto, Canada-based GreenBank Capital Inc. "We welcome the decision by GreenCoinX to establish its operations in the Isle of Man which reinforces our position as leading the way in the digital currency sector," said Isle of Man Chief Minister Allan Bell MHK. GreenCoinX has opened its European marketing and international treasury office in Douglas, Isle of Man, and has engaged the services of Alan Molloy as CEO of its Isle of Man operations. Molloy previously served as managing....
The Isle of Man's Department of Economic Development is set to introduce controls on digital currencies such as bitcoin. Designed to protect businesses and customers using digital currencies, the controls will also provide an environment that enables companies operating within the space to flourish. Peter Greenhill, the department's director of E-Business Development, said: "The Isle of Man recognises both the risks and opportunities presented by digital and virtual currencies." He added: "The government has instructed the relevant departments and statutory bodies to ensure there is a....
Isle of Man will create a cryptocurrency businesses register using block chain Technology. To do so, they are working with Pythia Ltd. The Isle of Man Government's Department of Economic Development is looking to create a stand-alone register of Island-based digital currency businesses. In order to do so, they are using the protocol of a local block chain service provider, Pythia Limited. The Isle of Man is known as a safe haven for digital currency businesses. They welcome new ventures in this field as long as their operations are legal. The decision to create a stand-alone register fits....