Categories: Ethereum

Isle of Man establishes digital blockchain hub

Click here to view original web page at

Digital Isle of Man has formed a a Blockchain Office and has launched an Isle of Man Sandbox in order to aid blockchain businesses through current and future regulatory landscapes. This forms part of the island’s digital strategy.

Digital Isle of Man has responsibility for the expanding digital sector in the Isle of Man, including the international e-Gaming industry, digital economy, and digital media sector. The organization works with the government, private industry and supporting. The new initiative is part of a new concept to propel the for the Isle of Man into becoming an international hub for blockchain businesses and providing a landscape for businesses to make use of the transformative technology. The initiative is built on the formation of an Isle of Man Blockchain Office, which will facilitate interactions between businesses and regulators, enabling blockchain platforms to design crypto-concepts in line with the required legislation and regulation. The Office will also offer expertise, guidance, and marketing support. There will also be opportunities for companies to work together. Isle of Man The Isle of Man is a British Crown dependency located in the Irish Sea, between Great Britain and Ireland. The head of state is Queen Elizabeth II, and while there are close ties with the U.K., the island is self-governing. The island has been at the forefront of several digital innovations, and it plays an important role in insurance and online gambling, which generate 17 percent of its Gross National Product (GNP) each, followed by information and communications technology and banking, which account for 9 percent of GNP. Isle of Man Blockchain Sandbox With the establishment of the Blockchain Office, businesses can apply to participate in the service from March 2019. Commenting on the launch, Lyle Wraxall, CEO of Digital Isle of Man stated: “With the launch of the Blockchain Office and Sandbox, the Isle of Man is making a firm commitment to be a fully supportive jurisdiction for the blockchain industry.” In particular the office will focus on the interaction between blockchain and the e-Gaming sector, which is assisted by Isle of Man legislation which permits virtual currencies to be deposited, withdrawn and gambled with e-Gaming operators. Recently the Island has hosted the first blockchain-enabled lottery platform run on Ethereum, based on smart contracts. The Isle of Man also serves as the headquarters of blockchain businesses including CoinCorner, Quanta, Luckbox and Qadre. The new Office is likely to see the number of blockchain businesses increase.

More about blockchain, cryptocurrency, Digital Isle
More news from

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Venezuelan designer prefers to receive his payments in bitcoin than in dollars

Source: UnSplash It is no secret to anyone. The economic situation in Venezuela has made bitcoin a clear alternative. On… Read More

4 hours ago

Bitcoin Price Charts & Technical Analysis: BTC Remains Bullish

- Consolidation within a common and strong continuation pattern continues. - The length and end of this consolidation can be… Read More

4 hours ago

Simon Ordish: Building WhatsOnChain to fit Bitcoin SV’s needs

While many cool applications have helped broaden the appeal of Bitcoin SV (BSV), one of the earliest applications has been… Read More

4 hours ago

Mark Mobius: Buy Gold At Any Price

Last week we reported that the mainstream is turning bullish on gold , and in recent months, a number of… Read More

4 hours ago

Veteran Investor: Demand For ‘Psycho Crypto Currencies’ Good For Gold Prices

Bitcoin has often been compared with gold as it shares a number of similar traits. Both are safe haven assets,… Read More

4 hours ago

Vaping May Harm Your Blood Flow—Even Without Nicotine

For first-time vapers, merely inhaling vape juice from an e-cigarette caused their blood vessels to constrict, stiffen, and circulate less… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More