A group of merchants in the Isle of Man has launched a digital currency startup incubator.
Six companies, ranging from accounting firms to broadband providers, can now offer free or discounted services to startups in Bitcoin or other digital currencies.
The incubator was established in this context, and the island government announced that they would look for a way to regulate digital currency for the development of digital currency technology. Therefore, the government is legislating and is included in existing laws.Open to all people
To be exact, this digital currency incubator is decentralized. Startups wishing to use the service can contact the provider directly and receive an informal project evaluation.
“Anyone can come here and they can choose the services we offer.” R Paul Davis said he is one of the service providers and a defense attorney in the accounting firm.
Services provided by other companies are also part of the overall solution, such as commercial supporter DixCart, accounting firm KPMG, recruitment agency Hamblin Employment Group, national postal service Isle of Man Post and broadband provider Wi-Manx.
For example, Wi-Manx will offer free engineering installations, cost-effective data hosting services and telephone services. He also accepts bitcoin payments. Any startup that wants help can ask for an informal screening through the company.
According to Dixcart, incubator startups can enjoy discounted office space, which is more cost effective than Britannia House, the island’s popular startup.
The Isle of Man is gradually striving to make it a hotspot for Bitcoin business, thanks mainly to a favorable regulatory environment and the desire of these business communities for new, bitcoin-based immigrants.
The Royal British Territory also hosts a legendary Isle of Man TT motorcycle race every year, with a technical area, mainly online gambling companies. Some of these companies and software developers are currently focusing on digital currencies.
“Historically, online cards are very profitable and can be extended to gambling and betting. There is already an ecosystem where software developers and fair regulators coexist, so these frameworks can be borrowed into digital currency business. “Hughes said.
Davis said that he has received many inquiries related to the professional service providers of the incubation center but he doesn’t know who accepts bitcoin in the market. For example, his company has one or two customers in a week, and they are mainly focused on digital currency.
He said, “Since this project has moved here, this is the biggest opportunity for the Isle of Man. Bitcoin may be the biggest digital currency of the future, maybe not, but here is the ideal technical return area.”