Blockchain Trade Association Formed In Gibraltar

Blockchain, News | October 31, 2018 By:

Her Majesty’s Government of Gibraltar has formed a new trade association that will aim to drive forward the country’s innovative approach to distributed ledger technology (DLT).

Called Gibraltar Association for New Technologies (GANT), the new association will 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. It will act as a forum for policy makers, regulators, professional firms, and educators.

“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,” said Minister of Commerce Albert Isola. “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.”

To ensure the development of a strong and sustainable industry, the trade association will be working closely with with HM Government of Gibraltar, the Gibraltar Financial Services Commission and the University of Gibraltar. One of the first initiatives include the delivery of educational programs that will help advance a core understanding of the underlying technologies supporting the sector.

“A whole new industry is taking off now that the first DLT licences have been granted by the Financial Services Commission, said David Parody, the Association’s designated chairman. “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.”

GANT is inviting companies who have received or have applied for a DLT license in Gibraltar, as well as ICO firms, auditors, lawyers, and consultancy firms servicing these industries, to apply for membership. The trade association’s initial meeting will be held on November 29 at the office of Gibraltar Finance, during which the submission of membership application forms and committee nomination forms will be discussed.