Per an announcement from the federal authorities, Gibraltar is partnering with Bitso and IOVLabs to implement blockchain tech with its governance system. Bitso is a crypto exchange firm based in Mexico, while IOVLabs is a BTC FinTech firm.
Deployment Has Started Already
The first phase of deployment will involve the storage of essential governance files to make it easy for the public to access such files. A high-ranking government official, Albert Isola, disclosed that RSK (a smart contract protocol) is already being used for digitizing government services.
He further said the work would be sped up in the first quarter of the new year. The crypto exchange firm will also partner in the project and has already contributed $500k worth of BTC to the cause. Isola opined that “Gibraltar’s steps concerning the development and provision of blockchain-related solutions prove that it is a forward-thinking nation.”
Gibraltar Is Favorable To The Digital Asset Industry
On this latest development, Isola said, “the deployment of blockchain tech in collaboration with our partners will facilitate the interaction between the public and the government.” The country’s financial watchdog has approved some crypto companies who sought legal advice to establish their business there.
Huobi and Block.One are two notable crypto firms among the crypto companies whose business operations were recently approved. Most crypto firms (especially crypto mining companies) seek favorable climes to run their businesses. They see the British territory of Gibraltar as one of such favorable climes to run their crypto operations.
Gensokishi Now Available As A Blockchain-Built Game
A popular game in Japan, Gensokishi, is now available as a GameFi project. Hence, it is leveraging blockchain tech to run a play-to-earn project. The popularity of play-to-earn model GameFi projects like the Axie Infinity (especially since the start of this year) has caused most other GameFi projects to adopt a similar model. Hence, it is no surprise that Gensokishi is also toeing the same line.
Many industry enthusiasts hail this web 3.0 model as an excellent way game players can be rewarded for participating in a new experience. Consequently, as more players get on board the new Gensokishi game, developers intend to create a metaverse for the GameFi project. The proceeds from this play-to-earn model will be for the support of the new metaverse.
Gensokishi Players To Earn Nfts
One of the perks Gensokishi players will receive would be digital artworks that they can sell on any NFT marketplace. Players will be compensated with these digital artworks by sharing their adventures or game progress with their loved ones. This feature is one way these blockchain-built games enable players to enjoy a new playing experience.
Like other GameFi projects, Gensokishi players can develop a character with a unique attribute and skill. A side benefit for the players of this game is that they get to meet with other like-minded individuals worldwide. The Gensokishi game will be built on the polygon blockchain to ensure fast transaction capacity and efficiency of payments.