Isle of Man Trials First Government-Run Blockchain Project
Comment added from Brian Donegan, head of operations for digital development and e-business at the Department of Economic Development and Nick Williamson, CEO of Pythia. The Isle of Man's Department of Economic Development today announced plans to trial the first government-run blockchain project. Using proof-of-stake protocol Credits, developed by local startup Pythia, the department will create a registry of digital currency companies operating on the island. Brian Donegan, head of operations for digital development and e-business at the Department of Economic Development, told CoinDesk....
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Known as the Bitcoin Island, the Isle of Man is turning its attention to blockchain to boost its FinTech and digital payments sector as it continues its efforts at establishing digital businesses on the island. After the Isle of Man’s Gambling Supervision Commission (GSC) and Treasury approved changes to the island’s gambling regulation last year, allowing currencies such as bitcoin to be accepted as cash, the island is hoping the adoption of blockchain applications will give the island the push it needs to further establish itself. Brian Donegan, from the Isle of Man Government Department....
The Isle of Man is known for having a bitcoin-friendly exterior in the world that seems so bent on regulating digital currencies. Through legislation allowing the exchange of digital currencies, they've poised themselves to be a haven for bitcoin enthusiasts. With the Isle of Man being so open to bitcoin, it only makes sense that businesses would begin to sprout up due to the acceptance. "The Isle of Man has a great government which is really progressive on many things," said James Carter, founder of ChainPay. "They really see the benefit of crypto, and how it's the way of the future in....