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Thursday, 7 May 2015

Isle of Man Trials First Government-Run Blockchain Project

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The Isle of Man's Department of Economic Development (DED) today announced plans to trial the world's first government-run blockchain project.

Using proof-of-stake protocol Credits, developed by local startup Pythia, the department will create a "proof of concept" registry of digital currency companies operating on the island.

However, the DED has stressed the "technical trial" is not intended to rival any future register introduced by the island's Financial Supervision Commission (FSC).

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