Now, It’s Businesses’ Turn in Pushing Malta to Front Line of Blockchain Revolution
Malta continues to be at the forefront of the blockchain industry.
Dubbed as the world’s first blockchain island, the Mediterranean isle is the first country in the world to provide a regulatory framework for cryptocurrencies and distributed ledger technology (DLT). Blockchain—the technology behind crypto—is a DLT sustained by a decentralized network of nodes.
Last July 4, the Maltese Parliament has legislated three bills into laws that would make the island country the most sought destination for blockchain and crypto businesses. Malta’s Silvio Schembri—Junior Minister for Financial Services, Digital Economy, and Innovation—stated that the laws would remove the legal uncertainty most operators fear.
Maltese prime minister Joseph Muscat talks about the potentials of blockchain technology, describing Malta as the Blockchain island with favourable regulatory environment for Blockchain businesses. This is the reason KuBitX is registered in Malta.#cryptocurrency #bitcoin #Malta pic.twitter.com/kPmGwyWP6t
— KuBitX Exchange (@kubitx) October 1, 2018
With the government already doing its part in shaping Malta into becoming the blockchain leader, many businesses believed that they have to join the cause as well.
One of these businesses is SiGMA, a known iGaming event organizer in the country that has organized the Malta Blockchain Summit on November 1 and 2, 2018.
Denis Dzyubenko, head of PR at Malta Blockchain Summit, explained that the private sector has an important role to play in Malta’s blockchain scene.
Dzyubenko, in an interview by CoinPoint Group Inc., said:
“We’re looking to do our part to boost the ecosystem large, and we have to embrace our role. Our job is to facilitate, not steal the scene. If we can stay true to that, we’ll be in pretty good shape.”
The two-day Malta Blockchain Summit will feature some of the biggest names in the blockchain and crypto industries for a series of talks, exhibitions, and networking sessions. Included in the line-up are famous personality John McAfee, Bitcoin Foundation Founder Jon Matonis, and TechCrunch Editor-at-Large Mike Butcher, as well as Schembri and Maltese Prime Minister Joseph Muscat.
Dzyubenko, describing the event, remarked:
“It’s exceptionally exciting to be on site as the show takes shape. We’ve got a ton of great exhibitors on the floor plan, and they’ll be worth the price of admission on their own. We’ve also planned a riveting ICO Pitch, which will definitely be worth following, and a hackathon to put some of the best developers in the biz through their paces.”
Despite having the potential to be one of the biggest events in the sector, Dzyubenko explained that the goal of the Malta Blockchain Summit is simply “to be a platform for others to show what they’re all about.” While he expressed his hope that the event will grow in the future, he believed that the summit would be successful only if it managed to change the lives of its attendees.