Digital Isle of Man (Digital IOM), an executive agency of the British dependency’s Department for Enterprise, has announced that its blockchain office and sandbox are now open and are ready to receive joining applications.
First announced in February of this year, the blockchain office facilitates a dialogue between businesses and regulators, and help blockchain platforms design and future-proof their concepts in accordance with relevant legislation and regulation. Through the office, companies will be able to apply to participate in the sandbox, which is designed to position the Isle of Man as the premier jurisdiction for blockchain based businesses to develop, test and perfect their product before launching on the global market.
The agency said that participants will be selected on the basis of a robust selection process. Early participants would not be charged fees for the facility.
Lyle Wraxall, CEO of Digital Isle of Man, said that the response to the launch of the blockchain office and sandbox has been tremendous, with a number of premium blockchain businesses and emerging startups approaching the office for early participation already.
“There are no signs of interest slowing, and we look forward to collaborating with the pioneers driving blockchain innovation,” Wraxall said. “The Isle of Man is committed to becoming a leading international hub for blockchain businesses, providing them with a fully supportive and collaborative environment to flourish in.”
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