The Government of Gibraltar has reportedly disclosed the initiative to make it an observing member of the Global Blockchain Business Council (GBBC), interacting with blockchain experts from over 50 nations. 

Specifically, via the development, Gibraltar is reportedly looking to increase the blockchain adoption rate throughout the British Overseas Territory, as well as will open up for consultation, regarding nominal topics like education and regulation, with business leaders and lawmakers, to establish the as a “friendly-one for blockchain”.

The GBBC was reportedly rolled out in Davos 3 years ago, with the philosophy to focus on “education, advocacy, and partnership”, in a bid to reinforce adoption rate for blockchain throughout nations participating in the Council.

In January 2 years ago, the country reportedly rolled out legislation focusing on Distributed Ledger Tech, with amendments rolled out in September this year to cover the most recent Financial Action Task Force rules. 

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, Head of the Global Blockchain Business Council, reportedly remarked regarding the initiative.