Albert Isola, Minister for Commerce HM Government of Gibraltar has expressed his delight at the announcement that ProximaX Ltd. has chosen to incorporate its company in Gibraltar because of the new distributed ledger technology (“DLT”) Regulatory Framework that commenced in January 2018 and which provides a conducive environment for DLT businesses.

Lon Wong who spearheads ProximaX Ltd., was the former President and founding member of the billion dollar Foundation Ltd., an international organisation that oversees the promotion and development of the highly ranked NEM blockchain technology project.

ProximaX is an advanced extension of the NEM Blockchain with utility rich services and protocols. The ProximaX solution allows businesses and innovators to avoid costly and failure-prone centralised architecture by utilising an all-in-one decentralised sustainable platform to manage immutable and irreversible, timestamped content delivery, data storage, and media streaming solutions.

Advising ProximaX are the Gibraltar law firm, Ellul & Co.