RISE Vision incorporates in blockchain friendly Gibraltar
RISE Vision has officially signed documents to incorporate as a business in Gibraltar as of December 2017. Cormac Lucking, CEO, under guidance of legal advisors, The Castle Trust Group, registered the business in Gibraltar to provide a foundation for long term sustainable growth. Gibraltar, a British Overseas Territory off the south coast of Spain, has positioned itself as the first jurisdiction in the world to licence businesses using blockchain in a bid to ensure both regulation and technological innovation can thrive together.
This is a strategic milestone for RISE Vision following Gibraltar Financial Services Commission (GFSC) introducing the regulation for individuals and businesses operating blockchain or distributed ledger technology, effective from 1st January 2018. The GFSC has been in consultation with both industry and government for three years to understand the risks and opportunities for innovative blockchain technology under a rigorous regulatory framework. Nicky Gomez, Head of Risk and Innovation at GFSC, told Reuters: “This is the first instance of a purpose-built legislative framework for businesses that use blockchain or distributed ledger technology. Many firms have been craving for a jurisdiction to regulate them”.
Gibraltar is an ideal home for RISE Vision and there are many advantages to being one of the first businesses to operate under the new Distributed Ledger Technology regulation. These advantages include:
- A strong corporate governance framework to ensure integrity, transparency for KYC and additional consumer protection.
- Increased operational efficiencies through access to financial and non-financial business resources.
- Operating under a supportive government that embraces technological innovation.
- Mitigating the risk of pending and future government regulations that have not yet been introduced and may be enforced in other countries.
RISE Vision offers a platform for decentralised distributed applications, smart contracts and token asset creation, powered by a Delegated Proof of Stake (DPoS) blockchain. To find out more visit: https://rise.vision/
