Published
OnlineLegal & RegulatoryFeature

Digital Isle of Man CEO: Blockchain has been the island's success story

Lyle Wraxall, CEO of Digital Isle of Man, believes the island has hit the ground running with blockchain technology.

lylewraxall

Speaking with Gambling Insider for its Jurisdictions roundtable, Wraxall explained how the island’s blockchain proposition differs from Malta's.

He said: “We don’t regulate the technology in the same way we don’t regulate the technology for financial services or banks.

“We take the technology into account when we look at the wider regulation, but whether you’re running a payment services provider, a spreadsheet or blockchain you’re held to the same standards.”

Wraxall outlined how the island has prepared for businesses looking to utilise the technology by providing the necessary framework and support system.

He said: “We will have a dedicated blockchain team to support businesses coming into the island and a blockchain technology consultant with members from KPMG and PwC.

“We also make everyone go through an application process designed to ensure there are no red flags coming to the island because we want high quality businesses here.

“In addition, we have a blockchain office space now which is fully sold out, so we are expanding that.

“Blockchain has been quite the success story for us.”

The full feature will appear in the Mar/Apr edition of Gambling Insider magazine. Click here to read when available.

.

Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Executive Profiles
Interblock
Caesars Entertainment
Pragmatic Play
Flutter Entertainment

Global Gaming Awards London: Who will win Executive of the year 2023?

Gambling Insider takes a look at the nominations list for 20...

CEO Special: Flutter International CEO Dan Taylor returning to roots

Flutter International CEO Dan Taylor meets Louis Thompsett t...

CEO Special: Light & Wonder Gaming CEO Siobhan Lane - optimising superpowers

Siobhan Lane, Light & Wonder Gaming CEO, speaks to Gambling...

CEO Special: Hoiana Resorts' Steve Wolstenholme – the travel man

Hoiana President & CEO Steve Wolstenholme talks to Gambling...

Read Magazine