On 26 November 2019, the government of Cyprus issued a procurement announcement requesting interest from the private sector to participate in the possible implementation of potential use cases on Decentralised Ledger Technologies (DLT) and more Blockchain related services in the public and private sector.
Cyprus, in line with the European and global trends of change and progress, is seeking to create the right environment for enterprises, services and investments by adopting innovative practices and procedures. For this reason, a National Strategy titled ‘Decentralised Ledger Technologies (Blockchain)’ has been implemented. This will enable the creation of a pro-innovation basis for the rapid adoption and smooth application of new technologies.
Cyprus entered into the European Blockchain Partnership on 4 June 2018 and along with six other European member states: Malta, France, Greece, Italy, Portugal, and Spain. They signed the joint ‘Declaration of the Southern Mediterranean Countries on Distributed Ledger Technologies’ on 4 December 2018, with the aim of enhancing cooperation in the digital sector and rendering Southern Europe a leader in emerging technologies such as DLT.
The national strategy aims to promote the development of this technology through innovation and pilot applications, with close cooperation between the private and public sectors for best results. The intention is for Cyprus to be among the first countries to regulate aspects of this issue in order to create a real, attractive environment for the development of companies utilising business models based on this technology. Important partners of the government and the House of Representatives in this process are the Securities and Exchange Commission, the Cyprus Central Bank, the Cyprus Bar Association, the Association of Chartered Accountants and many private experts who have contributed to the National Strategy preparation. The Blockchain project team consists of officers of the Office of the Chief Scientist and the Ministry of Finance.
Responses to the procurement exercise should be submitted to the Office of the Chief Scientist by 7 January 2020 and more precisely using the following contact emails: Savvas Charalambides and Kyriaki Pantziarou.
A workshop is due to be organised on the 11 December 2019 at 10:30am at the Ministry of Finance’s conference room where the use cases will be discussed and interested stakeholders can express their questions regarding the present Request for Interest form. For participation in the workshop, please contact same people as above.
The pre-publication can be found here.
The government’s guide on the National Strategy for Cyprus can be found here.