Regulation as both enabler of technology use and global competitive tool: The Gibraltar case

摘要: Abstract Distributed ledger technologies (DLTs) such as Blockchain appear to have disruptive economic potential traditional finance-sector and non-financial markets the success of crypto currencies demonstrates. While financial securities are highly regulated, DLT transactions exchanges so far widely remained unregulated, which potentially poses major threats individual investors and, via money laundering, terrorist financing, tax evasion, society at large. Governments been taking different approaches monitoring regulating fledgling provision arena. However, small jurisdiction Gibraltar, an affluent self-governed self-financed British overseas territory with a population 34,000 Southern tip Iberian Peninsula has taken proactive approach. What makes this case stand out is that Gibraltar not only first worldwide regulate general provision, but it rather using regulation competitive tool means for creating new public value. The study inquires benefits challenges particular approach regulation, investigates presents various facets value generation, might serve poster child fast smart in digital age.