Gibraltar Joins the Global Blockchain Business Council: A Step Towards Technological Excellence

Historic Membership in Global Blockchain Community

The Government of Gibraltar has officially embraced its role as an observing member of the Global Blockchain Business Council (GBBC). This strategic move positions Gibraltar among blockchain pioneers and thought leaders from over 50 nations, signaling its ambition to be a frontrunner in blockchain adoption.

Goals of Joining the GBBC

Understanding the potential of blockchain, Gibraltar aims to foster a thriving ecosystem within the British Overseas Territory. This initiative will involve extensive consultations with entrepreneurs, legislators, and industry leaders to explore critical aspects like regulation and education. The ultimate goal? Creating a welcoming environment for blockchain ventures.

Key Focus Areas

• Regulatory Framework: Developing guidelines that facilitate growth while ensuring compliance with international standards.
• Educational Initiatives: Promoting awareness and understanding of blockchain technology among business and community leaders.
• Industry Collaboration: Engaging with local and international companies to build a robust blockchain business landscape.

GBBC: A Model of Collaboration

Launched in Davos in 2017, the GBBC champions a philosophy centered around education, advocacy, and partnership—core tenets that align perfectly with Gibraltar’s objectives. By working together, members aspire to bolster blockchain implementation across various sectors, unlocking new opportunities for innovation and growth.

Statements from Leaders

Minister for Digital and Financial Services, Hon. Albert Isola, expressed his enthusiasm: “The GBBC’s vision to enhance blockchain technology adoption through engaging and educating enterprises and regulators is completely in sync with our own mission. We’re excited about the synergy this relationship offers.”

Sandra Ro on Gibraltar’s Joining

“The Global Blockchain Business Council welcomes the Government of Gibraltar into our global network as a GBBC Observing Member. We look forward to highlighting the important digital assets and blockchain technology work and innovation from Gibraltar as we advance global collaboration, adoption, and opportunities.” – Sandra Ro, CEO of GBBC

Looking Back at Gibraltar’s Blockchain Journey

Gibraltar’s enthusiasm for blockchain isn’t new. Back in January 2018, the territory introduced legislative frameworks for distributed ledger technology (DLT), followed by an update to include compliance with the Financial Action Task Force (FATF) guidelines. It also joined INATBA earlier this year, further testament to its commitment to blockchain development.