The Isle of Man government is about to open its new Blockchain Office, to help boost innovation and entrepreneurship on the island.
The office, run by Digital Isle of Man, is set to be a consultancy, education and research hub for both crypto businesses and regulators, and will fully open this Spring according to a statement.
The project will help bring together industry experts to share advice and knowledge with the Manx crypto community, and create a forum for industry actors and authorities to discuss regulation.
Businesses will be able to benefit from a sandbox-type environment with mentoring from regulatory and tech experts, along with successful entrepreneurs and will gain access to the Isle of Man’s business infrastructure, including accountancy, legal expertise and connectivity.
Digital Isle of Man is dedicated to helping the island’s burgeoning digital sector, which covers everything from media and fintech to esports and telecommunications, with blockchain and crypto-related businesses a particular focus (see CRYPTO ESPORTS PLATFORM LUCKBOX GETS ISLE OF MAN LICENSE).
Chief Executive of the Isle of Man Digital Agency, Lyle Wraxall, commented:
“The establishment of the Blockchain Office sends out the clear message that we, as an Island, are going to be pro-blockchain, but that we are going to do that through good regulation – by attracting high-quality business, enhancing consumer protection, and becoming a globally recognised as a high-quality jurisdiction in this space.
“That’s why the consultancy wing of the Blockchain Office helps mature businesses to the point where they have the knowledge they need before they enter the Sandbox and start having that regulatory conversation.
“As an Island, we’re really well placed with our financial services, our infrastructure, and our egaming industry experts. We have such a strong support network of expertise that can come in and plug any gaps for early-stage entrepreneurs, so the innovators are free to focus on what they do best: the technology and the innovation. That innovation is what we’re trying to attract here, and I think the Blockchain Office will be the place where everything comes together to create an incredible ecosystem.”
Opening its doors this month, The Isle of Man Blockchain Office will accept applications for consultancy services from the start of March.
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