IN499 - Malta National Blockchain Strategy and Taskforce

Malta as a jurisdiction, with it generous and effective corporate tax system, is positioning itself as a leading Blockchain technology hub, with many state led initiatives currently underway.

Earlier this year the Maltese Government implemented a National Blockchain Strategy aimed at capitalising on the current opportunities for Malta to become a global Blockchain and Cryptocurrency front runner.

Malta Blockchain Taskforce

The Malta taskforce has the primary objective to implement the National Blockchain Strategy and will initially consider how to effectively apply use of this technology in public sector processes and services. The first step will be a trial Blockchain to keep track of academic certifications. This will make Malta one of the first countries in the world to issue digital certificates for students.

The Government is also considering the setting up of a new regulatory function, a sandbox of sorts, within a legal framework, in an effort to create the ideal ecosystem for those willing to invest in blockchain technology.

Malta – the Silicon Valley of Europe?

Silvio Schembri, Chairman of the 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 further noted that this disruptive technology might be the catalyst for the further growth of the Malta’s digital economy.

Secure Storage of Academic Documents

The Ministry of Education and Employment has struck 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 is taking place in Malta on 7 December 2017 with numerous international speakers, and this conference is likely to generate new opportunities on the island for this technology and companies using it.

Additional Information

If you would like to understand more fully the opportunities for the Blockchain Industry in Malta, please speak to the Dixcart office in Malta: advice.malta@dixcart.com.

Categories: Malta, 2017