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CIISF announce review into potential of Cryptocurrencies

Today the Channel Island Information Security Forum (CIISF) announced that they will be working on a paper outlining the potential for Cryptocurrencies in the Channel Islands. We will be working with them to research this topic

News Release – Channel Islands Information Security Forum

20/06/2014 14:00 – For Immediate Release

CRYPTOCURRENCY INVESTIGATION LAUNCHED BY CHANNEL ISLANDS SECURITY FORUM

The Channel Islands Information Security Forum (“CIISF”) has launched a review of cryptocurrencies and how Jersey and Guernsey could benefit.

IISF Chairman, Matt Palmer, said “Cryptocurrencies are much misunderstood but have the potential to revolutionise the financial system. That may be good news or bad, but a ‘wait and see’ strategy is not an option. Cryptocurrencies such as bitcoin could well underpin the future of offshore finance centres.”

“The Forum will be undertaking an in-depth review of the issues and opportunities around cryptocurrencies, including both the technical and administrative barriers, and presenting our findings back to government and the digital community.

“There is an opportunity to create a trusted regulatory and legislative environment in which cryptocurrencies can be established, operated and traded. However, whilst some jurisdictions are rushing ahead there are considerable risks that need to be addressed.”

Arthur Mainja, Deputy Chair of the CIISF, added “The CIISF has access to over 100 specialists in cybersecurity, and this will provide critical advice and guidance to the States in developing their strategies for the digital and financial services sectors.”

Anyone wishing to contribute to the study should contact the CIISF secretariat at admin@ciisf.org.

About the CIISF

The Channel Islands Information Security Forum is a not-for-profit organisation established to support government, residents and businesses in addressing cybersecurity issues in the Channel Islands. It undertakes public policy research and operates a growing community education programme in both Jersey and Guernsey.

Further information

Please contact Matt Palmer – Chairman on 07700 899900 or the CIISF secretariat at admin@ciisf.org

Robbie Andrews

Founder of Bit.Coin.Je | Technical Director at The Observatory (beobserved.com) | TechTriber (techtribes.je)

1 Comment

  • Mario Detski Drehi June 24, 2014 Reply

    Awesome idea about the island and its future with bitcoins. We are one of the first companies here in BG accepting bitcoins, love the idea about Jersey becoming the spot for bitcoins 🙂 We might open a store there for children’s clothing soon 🙂

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