Hot on the heels of the news that the Isle of Man’s Department of Economic Development would be bringing about plans to help protect businesses and consumers who use digital currencies, is word that six businesses on the island are forming a incubator for start-ups in the digital currency space.
These companies range from an accountants’ office to an internet service provider, according to CoinDesk, who will be offering either free or discounted services to these start-ups in effort to help spur innovation.
The incubator is reportedly open to all, with start-ups working in the digital currency space able to contact providers directly for an assessment.
Some of the companies involved include Wi-Manx (the aforementioned internet service provider), business support provider Dixcart, and even the national postal service of the Isle of Man.
“Anybody is allowed to come here and they can choose from the services on offer,” R. Paul Davis was quoted as saying. Davis is affiliated with Counting House, a payment solutions company.
The development is one of interest, particularly because the last place most bitcoin/crypto enthusiasts expected a setting so welcoming to digital currencies would be a small island between Great Britain and Ireland.
Still, it could be an excellent opportunity to kickstart further economic development on the island, which has a population fewer than 100,000.