Gibraltar launches blockchain-focused trade association

HM Government of Gibraltar has announced the official launch of a new trade association aimed at accelerating the country’s adoption of blockchain or distributed ledger technology (DLT).

Called the “Gibraltar Association for New Technologies” (GANT), the association will act as a forum for policymakers, regulators, professional firms, and educators. It will establish formal lines of communication between the country’s policymakers and the private sector involved in blockchain technology and facilitate the exchange of knowledge and ideas to enhance public trust in this sector.

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.

GANT will work closely with HM Government of Gibraltar, the Gibraltar Financial Services Commission and the University of Gibraltar to ensure the development of a strong and sustainable industry.

“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,” the Minister for Commerce, the Hon. Albert Isola MP, said.

“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.”

GANT will focus on promoting high standards of professional conduct within the domestic blockchain sector as well as further the reputation of the jurisdiction’s finance industry on the international stage. It will also focus on facilitating educational programmes that will help advance a core understanding of the underlying technologies supporting the sector.

“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,” GANT Chairman designate, David Parody, said. “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.”

For its membership, GANT will consider applications 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. Members will collaborate to keep each other apprised of future policy and regulatory matters.

An initial meeting of GANT will be held on Thursday 29th November 2018 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.