Gibraltar launches license for firms using blockchain

The license would formally recognize the use of blockchain records as an accepted mechanism for transmitting payments
14 December 2017   1944

The Gibraltar Financial Services Commission (GFSC) will introduce the world’s first bespoke license for fintech firms using blockchain technology from next month in in attempt to attract start-ups.

The license is the first of its kind and would formally recognize the use of blockchain records as an accepted mechanism for transmitting payments, paving the way for broader adoption.

This is the first instance of a purpose-built legislative framework for businesses that use blockchain or distributed ledger technology.

 

Nicky Gomez

The head of risk and innovation, GFSC

GFSC will publish guidance on Friday for applying its new law for firms that use blockchain to “transmit or store” cash and assets belonging to others - much in the same way as a bank is authorized.

According to Nicky Gomez, Gibraltar expects firms numbering well into “double digits” to seek authorization after the new rules come into force on January 1. Firms will have to treat customers fairly, and must have adequate IT systems and controls to comply with anti-money laundering and terrorist financing rules.

Swansea Hosts Blockchain and Distributed Energy Conference

The BEW'18, which will be held on February 19, 2018 in Swansea, UK, is a must-attend for people who are interested in the cutting edge of blockchain
19 February 2018   214

The Blockchain Energy Wales'18 Conference will be held on February 19, 2018 in Swansea, United Kingdom.

The conference will introduce Klenergy and their Pylon Network, which is a decentralised energy exchange platform powered by renewable energy. The BEW'18 is a must-attend for people who are interested in the cutting edge of blockchain, distributed energy, peer2peer and smart technology.

BEW conference location swanseaBEW'18 Exact Location

Location: TechHub Swansea, 221 Stryd Fawr, Swansea SA1 1NW, UK
Time: from 9AM to 1.30PM

The headline speakers include Paul Harwood, Basicincome supporter and advocate, and David Clubb, director of RUKCymru and head of digital RenewableUK.

The agenda of the conference is as follows: Blockchain technology and its application in the energy sector, future of blockchain wallet systems, buildings as power stations, building the open-source co-operation protocol for the energy sector, and more.