The government of Gibraltar, a British territory located at the southern tip of the Iberian Peninsula, has launched a pilot program to use blockchain technology to store official credentials on their systems.

In a statement on Tuesday, Her Majesty’s Government in Gibraltar said it has partnered with Mexico-based exchange Bitso and IOVlabs, a startup developing financial solutions based on Bitcoin (BTC) blockchains, to integrate blockchain technology into the blockchain ecosystem. own e-government. The initial integration phase will allow users to store government-issued credentials on their servers to provide citizens and localization organizations with better access to publicly available services.

Officials have already begun digitizing public services on the RSK smart contract network, but plan to step up integration work in early 2022, according to Albert Isola, Gibraltar’s Minister of Digital and Financial Services. He added that Bitso will contribute $ 500,000 in bitcoins – roughly 9 bitcoins in value. $ 55,000 – for the project.

“Gibraltar has succeeded in establishing itself as a promising jurisdiction for innovative companies developing and delivering blockchain solutions,” Isola said. “The integration of blockchain technology into our operations, in collaboration with stakeholders working here, will further improve the way our community interacts with authorities.”

On the subject: Blockchain is transforming government services, and this is just the beginning

The Gibraltar Financial Services Commission recently gave the green light to cryptocurrency firms looking to operate in the UK, including the local Huobi Group, which provides spot trading, Huobi Gibraltar and its subsidiary Bullish Limited. Many companies in the region seem to see the region as a more conducive regulatory environment.

Source: CoinTelegraph