The government of Gibraltar, a British territory at the southern tip of the Iberian Peninsula, has started a pilot program aimed at utilizing blockchain technology to store official credentials on its systems.

In a Tuesday declaration, Her Majesty'southward Government of Gibraltar said it had partnered with Mexico-based cryptocurrency exchange Bitso and IOVlabs, a startup that develops fiscal solutions based on the Bitcoin (BTC) blockchain, to integrate blockchain technology into its eGov arrangement. The initial phase of the integration will permit users to store country-issued and certified credentials on its servers in an endeavour for residents and location organizations to take better access to public services.

According to Albert Isola , Gibraltar'due south Government minister for Digital and Financial Services, officials have already started digitizing authorities services on the smart contract network RSK, but plan to step upwards work on the integration in early 2022. He added that Bitso would be contributing $500,000 in Bitcoin — roughly nine BTC at a toll of $55,000 — to the project.

"Gibraltar has successfully positioned itself as a forward-thinking jurisdiction for innovative businesses developing and offering blockchain-related solutions," said Isola. "The implementation of blockchain engineering into our processes in partnership with our stakeholders working here will further better the manner in which our community interacts with the government."

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Gibraltar'southward Financial Services Commission has recently given the green light for crypto firms looking to conduct business organisation in the British territory, including Huobi Group's local arm, Huobi Gibraltar, which provides spot trading services, and Block.one's branch Bullish Limited. Many companies in the space seem to be looking at the territory equally a more favorable regulatory environment.