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Gibraltar is now an observing member of the Global Blockchain Business Council

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The Government of Gibraltar has announced its official appointment as an observing member of the Global Blockchain Business Council, or GBBC. It will be working alongside blockchain industry leaders from more than 50 countries.

According to the announcement, Gibraltar expects to promote adoption across the British Overseas Territory and will consult widely to address topics such as regulation and education with business leaders and lawmakers to make the country a a “friendly-one for blockchain.”

The GBBC was launched in Davos in 2017, and is philosophy is about “education, advocacy, and partnership” to strengthen blockchain adoption among countries’ members.

The Hon Albert Isola, Minister for Digital and Financial Services of Gibraltar said that GBBC’s vision to further the adoption of blockchain technology through “engaging and educating enterprises and regulators is totally aligned with our own mission.”

In January 2018, the nation introduced legislation around distributed-ledger-technology, or DLT. In September it updated the regulations to include the latest Financial Action Task Force rules. Earlier this year, Gibraltar also announced it had joined INATBA, another blockchain-related group with industry leaders from the European Union.

Sandra Ro, CEO of the Global Blockchain Business Council, commented on the announcement:

“The Global Blockchain Business Council welcomes the Government of Gibraltar into our global network as a GBBC Observing Member. We look forward to highlighting the important digital assets and blockchain technology work and innovation from Gibraltar as we advance global collaboration, adoption, and opportunities.”



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Blockchain

Enjin joins Crypto Climate Accord, goes carbon negative

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Enjin, a blockchain gaming and nonfungible token platform, has stepped up to decarbonize its footprint by joining the Crypto Climate Accord, a move that adds further credibility to the industry’s growing environmental mandate. 

The Crypto Climate Accord is backed by 20 firms from the blockchain, fin-tech and greentech industries. Inspired by the 195-signatory Paris Climate Agreement, the Accord was established in April to address the “large and growing energy consumption of cryptocurrency and blockchain, and the climate impact of their energy use.”

Enjin claims that its JumpNet blockchain has already achieved carbon-negative status nine years ahead of schedule. In March, the company said it planned to enable carbon-neutral NFTs by 2030.

“The creation of new forms of technology should never come at the cost of destroying our environment,” said Enjin CEO Maxim Blagov. “Carbon neutrality for JumpNet is an important step toward our vision of a sustainable NFT ecosystem for Enjin and our partners.”

In addition to decarbonizing newly created tokens, Enjin’s environmental sustainability plan includes supporting the tokenization of the physical economy and decarbonizing existing digital assets. Other measures include upgrading to carbon-neutral nodes and incentivizing carbon reduction technologies.

Environmental concerns have virtually hijacked Bitcoin’s narrative this year, with the likes of Elon Musk casting shade over carbon-intensive mining. The Tesla CEO briefly embraced Bitcoin earlier this year before deciding that BTC payments are no longer acceptable due to environmental risks. Now, he states that his firm is willing to accept payments of the virtual currency, provided there’s more evidence for sustainable mining.

Related: Elon Musk lays out when Tesla will begin accepting Bitcoin payments

Other environmental sustainability efforts within crypto are also underway. As Cointelegraph reported, Tyler and Cameron Winklevoss’ Gemini exchange has purchased carbon credits to reduce Bitcoin’s carbon footprint. Separately, U.S. miner Stronghold Digital Miner recently announced that it raised $105 million to divert waste coal to cryptocurrency mining.