Malta gets ready for Blockchain

Malta is positioning itself as a leading Blockchain technology hub, and many government led initiatives are already underway. Earlier in 2017, the Maltese Government implemented a National Blockchain Strategy aimed at capitalising on opportunities for Malta to become a global Blockchain and Cryptocurrency pioneer. Sean Dowden at Dixcart Malta explains more about this disruptive technology and plans for Malta to become Europe's new Silicon Valley. 

Malta Blockchain Taskforce

Malta's Blockchain Taskforce is charged with mplementing the National Blockchain Strategy and will first consider how to effectively apply use of this technology in public sector processes and services. The initital step will be a trial Blockchain to keep track of academic certifications. This will make Malta one of the first countries globally to issue digital certificates for students. 

The Government is also considering implementation of a new regulatory function (a "sandbox") within a legal framework, in order to create the ideal ecosystem for those willing to invest in Blockchain technology.

A new Silicon Valley for Europe?

Silvio Schembri, Chairman of the country's Financial Affairs Committee, has ambitions for Malta to become the Silicon Valley of Europe: “With our geographical position, strong financial system, skills base, entrepreneurial spirit and can-do approach, Malta can truly serve as the test-bed for new sectors and foreign firms to test their new technology and products locally.” 

Schembri sees this disruptive technology being the catalyst for the further growth of Malta’s digital economy.

Malta's Ministry of Education and Employment has drawn up an agreement with Blockchain start-up Learning Machine Technologies to build a prototype platform that will allow users to securely store and share their academic documents as well as prove that the credentials belong to them. The system will be built using the ‘Blockcerts open standard’ which was developed by Learning Machine Technologies and the MIT Media Lab in 2016.

Blockchain conference in Malta

A Blockchain and Bitcoin Conference takes place in Malta on 7th December 2017 and has attracted many international speakers. The conference is likely to generate new opportunities on the island for this technology and the companies the embrace it.

Interested in finding out more about Blockchain?

For more information on the opportunities offered by the Blockchain sector in Malta, please contact Sean Dowden.