Malta has recently earned the name "Blockchain Island", being the first jurisdiction in the world to adopt blockchain regulations – three indeed. And the Mediterranean island has already attracted the two biggest cryptographic exchanges, Binance and OKEx, and more recently ZBX, now opens offices in the growing cryptographic hub.
In July of this year the Maltese parliament approved the law defining the blockchain framework (DLP (distributed ledger technology), cryptocurrency and digital resources.
And, the following month, Silvio SchembriMalta's Minister for Financial Services, Digital Economy and Innovation (responsible for the implementation of Malta's Blockchain strategy) was quoted by Forbes explaining how Malta became the island of the blockchain of the world.
Of course, politicians here have great aspirations. After all, it is one of the smallest countries in the world (122 per square miles / 316 km2) and also more densely populated (about 45,000).
The imposing scale of the Blockchain summit in Malta, which takes place this week (1-2 November), reflects this new momentum. The summit, which has been scheduled since last December and will see the banks and some big names in the venture capital space (VC) attending the space, will take place at the InterContinental Hotel in St Julian & # 39; s on the & # 39; 39; island. The event consists of four conferences over the two days, namely:
- A regulatory conference;
- A marketing and investment conference;
- A conference for developers and technology; is,
- A Tokenomics and Crypto conference.
These proceedings take place around an already exhausted exhibition floor. To this is added a two-day Hackathon with about 300 blockchain developers participating, with a prize of € 50,000 (about $ 57,000) up for grabs for the winners.
To complete it all, there is a launch battle of Initial Coin Offering (ICO) among those that are described as thirty of the "hottest" start-ups in the crypto sphere. Each entity, which will compete for $ 100,000, will have 10 minutes to launch a group of judges.
Everything follows in the footsteps of another blockbuster blockbuster event on the island, the Delta Summit, which was convened at the beginning of October, attended by just over 4,000 participants from all sides. But the Blockchain summit in Malta is on track to reach that number according to the organizers.
Melanie Mohr, CEO and founder of WOM protocol, that is creating a blockchain-based protocol that allows brands, content creators, publishers and social networks to monetize word of mouth advice (WOM) on any app or platform, & nbsp; has chosen Malta as a jurisdiction because the organization believes it is "at the forefront of the regulatory point of view" in the blockchain and DLT space.
"A significant number of highly competent people in the global blockchain community have worked diligently with the government [here] develop a legal framework that regulates wisely and supports the further development of blockchain and DLT, "said the businessman from Berlin who is working at the forefront of the global digital revolution.
WOM said it had also found "a great level of support" on the island.
Having founded & nbsp; the m-commerce video platform yeay in 2016 with the goal of providing GenZ with a space tailored to share and buy, Mohr added: "The recent Delta Summit [October 3-5] has shown how well Malta has already positioned itself. He delivered excellent content from high-level speakers and attracted the global community. It was full and for me the blockchain event of the year to date. "
As such, the German entrepreneur is "more than convinced" that the upcoming Malta Blockchain Summit will show that the island is "really in the limelight of global blockchain development" with thousands of participants from all over the world. world. "And he can proudly call himself Blockchain Island," he said.
Cryptic exchange and amp; Malta exchange
In the case of Binance, the world's largest cryptocurrency exchange by volume of trade, the Memorandum of Understanding (MoU) was signed last month (11 September) with MSX Plc, the fintech and digital subsidiary of the Malta Stock Exchange.
This initiative envisaged the launch of a new digital security token trading exchange, with the new trading platform ready to exploit the twenty-six track record of Malta Stock Exchange operating as a regulated stock exchange.
The Memorandum of Understanding follows a decision by Binance to extend its business to Malta, in recognition of the country's encrypted regulatory climate. Changpeng "CZ" Zhao, CEO of Binance, commented at the time: "Malta has become a global center for blockchain technology through active and transparent encrypted regulations." (Note: Zhao's equity was put in the north by $ 1.1 billion from Forbes in February 2018).
And, when I visited the Valletta exchange this July for a tour, one could see that the space was sidelined for the fintech innovative start-ups in the building's incubator centers.
In addition to admission and trade, the exchange that resides in the Garrison Chapel overlooking the harbor offers a full range of back-office services.
This includes the maintenance of equity and bond registers, clearing, settlement and custody services through its Central Securities Depository (CSD), which is located on-site. It also has a connection with Clearstream Banking in Frankfurt (part of Deutsche Boerse), and in Luxembourg which facilitates international access.
As Simon Zammit, managing director of the Malta stock exchange during my visit, explained the exchange announced in May 2107 that he should continue to use Deutsche Boerse's commercial technology, extend an agreement from 1 January 2017, for another five years from that point – until 31 December 2021.
They also extended trading hours from 9:00 to 19:30. Zammit emphasized that Deutsche Boerse's technology was "extremely reliable" and highly performing. The partnership has been in place since 2012.
Boasting what the organizers claim are 5,000 delegates taking part in the huge event in a few days, hundreds of investors, around 100 speakers and around 300 sponsors and exhibitors, the Blockchain summit in Malta will prepare the stage to announce the new crypto, ICO and blockchain regulations for Malta, as well as host debates covering potential blockchain applications in a myriad of sectors such as entertainment, government and banks.
Well, this is the reason that has spread from the island in recent weeks by the organizers.
A delegate with whom I spoke to CoinAgenda Europe (2018) in the island has ventured in relation to the best – or perhaps the "right" – jurisdiction for the companies encrypted or blockchain and the risky regulation: "Everyone decides to choose the one that he thinks it's the right country, and now he clearly seems to be here [Malta]. We'll see if it lasts. I think he has a good chance of staying here. But my motto is: jurisdictional diversification. "
Proactive approach
It is the farsighted approach of the Maltese government to the regulation of blockchains, their low tax on companies, which is part of the European Union (EU) zone and the hot climate that attracts the large number of various companies related to the blockchain to escape to Malta and the tendency to migration is incremental.
Indeed, when I was in Malta last June for the event CoinAgenda 2018 during which Joseph Muscat, the prime minister of Malta, gave a keynote speech, you could be forgiven for thinking that you were in heaven.
Siim & Otilde; unap, the COO of Celerexx, a new exchange that began in 2019, commenting on the legal landscape, said: "The Maltese government is trying to get companies scrambled to increase its economy for some time and have successful in their approach. "
Estonian added: "While their government departments and legal procedures are behind e-countries such as Estonia or Lithuania, special regulations allow Celerexx to offer lower prices and better services to our customers , which makes [for us] the transition to Malta is worthwhile. "
It is not just exchanges that choose an environment more favorable to Malta for their operations. Coinvest, the cryptocurrency investment company, has announced a new partnership with the Maltese government to establish a blockchain council. In addition, the new regulatory framework also supports ICO companies in their financial products, attracting many new and innovative projects to establish their base camp on Blockchain Island.
Malta's Blockchain Summit & amp; New invoices
During the Blockchain summit in Malta, three new technology bills for decentralized accounting accounting will come into force: (1) Malta's digital innovation assistance law; (2) the innovative technological agreement and the services law; and, (3) The law on virtual financial assets.
Together they will provide what is described as a "clear and navigable" framework for innovative technology companies so that rules and governance are not the innovation checkpoints. The Blockchain and cryptographers argue that the current indecision and semi-conscious regulation of most national regulatory bodies are equally inhibitory and short-sighted – such as the absolute ban on innovative solutions.
The Malta Digital Innovation Authority Act establishes the governing body to regulate the technology of Distributed Ledger Technology, or DLT, with its main objectives to ensure that companies accepted as technology service providers and the services they provide comply with the principle of being honest and transparent for protect consumers and financial markets.
The Arrangement and Service Technology Agreement was created as the future-proof scheme for the registration and certification of Technological Services Providers and Technology Agreements as it provides for the possibility of unforeseen technological developments.
The Virtual Assets Act is a framework within it's Financial Instruments Test that provides a clear indication if cryptocurrency or tokens issued in an ICO would qualify as a financial instrument that must be regulated as a security or virtual token that does not fall scope of the regulation.
If the activity can not be classified as one of the two, it will be considered as a virtual financial resource and regulated by the new law after application. ICOs and crypto exchanges can now breathe easily knowing that they are in agreement with the authorities and do not have to worry about being turned off.
Prime Minister Joseph Muscat, who will inaugurate the regulatory conference, in giving a keynote speech on July 16 at the event CoinAgenda Europe (2018) at the Westin Hotel, St Julian, described the issue of three new laws & nbsp;. as a "radical revolution" of legislation (covering the blockchain, crypto and space of digital goods), saying: "This is not the end but only the beginning and the Maltese government had to be innovative".
One of the most anticipated speakers of the conference is Dr W. Scott Stornetta co-author of an article describing for the first time a digital hierarchy system that used digital timestamps to sort transactions, the solution that the entity called Satoshi Nakamoto later used in its Bitcoin protocol. This earned Dr. Stornetta recognition as the founding father of blockchain technology.
The Winklevoss twins they participate as VIP investors and John McAfee, the famous programmer and man of British-American business, who came across a Blockchain cruise from Barcelona to Monte Carlo, this September organized by Coinsbank, is now confirmed as a speaker for the summit's developer conference.
In 1987, he founded McAfee Antivirus and under his guidance the company made a dramatic rise to the top of the IT security industry. If its ruling note to the delegates on the Royal Caribbean cruise ship is something to be done, the delegates of the Blockchain summit in Malta will hardly feel soon changed.
And not to be overtaken by its human counterparts, Sophia, the humanoid robot Artificial Intelligence (AI) has been confirmed as a & nbsp;speaker& nbsp; at the next Summit. The citizen of Saudi Arabia will join his creator in a chat at the fireplace during the work. Everything brings back to memory Amelia, an IPsoft digital personal assistant, whom I saw in action at the start of this summer in the New York financial district in Cipriani.
The Creation of Hanson Robotics it has become something of a media treasure, appearing in popular late night talk shows, magazine covers, and taking refined places on plum panels and high-level conferences. Her status as a cultural icon has allowed her to trigger advanced conversations about how robotics and artificial intelligence will allow people's lives.
The event has already attracted hordes of investors to witness an ICO battle that provides a valuable opportunity for thirty blockchain-based companies to get support for the next step in their roadmap.
One of those ICOs that will participate in the Malta Blockchain Summit is Zelectrix, a team of talented specialists that will change the way in which EV (electric vehicles) and EV rental fleet are powered by improved chargers that use renewable energy and are supported by state of -la-art blockchain of intelligence of thought.
Raido Lensment, CEO of Zelectrix, commenting: "In the area of service to our customers who use our chargers and the renewable energy network, we are trying to create financial products as part of the Zelectrix payment scheme."
He added: "Our research is proving that Malta could be the right choice for our company and the opportunity to present our project at the Blockchain Summit in Malta is very anticipated by our team, we only hope that the Winklevoss brothers they will listen. "
The Malta Blockchain summit is already on its way to becoming an annual reference event on the global blockchain calendar. And when I spoke to one of the organizers, Dennis Avorin, a Swedish citizen, at the beginning of October it was quite certain that the event saw a repeat in 2019.
The organizers also invite "C-level" executives and investors from the exclusive invitation dinners all year to the Maltese-themed title "Knights of Blockchain".
Eman Pulis, Founder of Malta Blockchain Summit, said: "I would like to welcome all blockchain fans to the Malta Blockchain Summit, a melting pot for global technology influencers, civil society, democracy promotion and innovation" .
Pulis, among others, said that we can "expect a compelling discussion" on potential applications that change the world of blockchain on more vertical. "But also some good old fashion nets under the sun of Blockchain Island," he added. And, given the scope of the event, if they had the motto would be that "Business is not made between companies – it is made between people". Time will tell.
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Malta has recently earned the name "Blockchain Island", being the first jurisdiction in the world to adopt blockchain regulations – three indeed. And the Mediterranean island has already attracted the two biggest cryptographic exchanges, Binance and OKEx, and more recently ZBX, now opens offices in the growing cryptographic hub.
In July of this year the Maltese parliament approved the law defining the blockchain framework (DLP (distributed ledger technology), cryptocurrency and digital resources.
And, the following month, Silvio SchembriMalta's Minister for Financial Services, Digital Economy and Innovation (responsible for the implementation of Malta's Blockchain strategy) was quoted by Forbes explaining how Malta became the island of the blockchain of the world.
Of course, politicians here have great aspirations. After all, it is one of the smallest countries in the world (122 per square miles / 316 km2) and also more densely populated (about 45,000).
The imposing scale of the Blockchain summit in Malta, which takes place this week (1-2 November), reflects this new momentum. The summit, which has been scheduled since last December and will see the banks and some big names in the venture capital space (VC) attending the space, will take place at the InterContinental Hotel in St Julian & # 39; s on the & # 39; 39; island. The event consists of four conferences over the two days, namely:
- A regulatory conference;
- A marketing and investment conference;
- A conference for developers and technology; is,
- A Tokenomics and Crypto conference.
These proceedings take place around an already exhausted exhibition floor. To this is added a two-day Hackathon with about 300 blockchain developers participating, with a prize of € 50,000 (about $ 57,000) up for grabs for the winners.
To complete it all, there is a launch battle of Initial Coin Offering (ICO) among those that are described as thirty of the "hottest" start-ups in the crypto sphere. Each entity, which will compete for $ 100,000, will have 10 minutes to launch a group of judges.
Everything follows in the footsteps of another blockbuster blockbuster event on the island, the Delta Summit, which was convened at the beginning of October, attended by just over 4,000 participants from all sides. But the Blockchain summit in Malta is on track to reach that number according to the organizers.
Melanie Mohr, CEO and founder of WOM protocol, that is building a blockchain-based protocol that allows brands, content creators, publishers and social networks to monetize word of mouth advice (WOM) on any app or platform, chose Malta as a jurisdiction because the organization believes it is to the "All-round from a regulatory point of view" in the blockchain and DLT space.
"A significant number of highly competent people in the global blockchain community have worked diligently with the government [here] to develop a legal framework, which wisely regulates and supports the further development of blockchain and DLT, "said the Berlin entrepreneur who is working at the forefront of the global digital revolution.
WOM said it had also found "a great level of support" on the island.
Having founded the m-commerce video platform yeay in 2016 with the goal of providing GenZ with a space tailored to share and buy, Mohr added: "The recent Delta Summit [October 3-5] has shown how well Malta has already positioned itself. He delivered excellent content from high-level speakers and attracted the global community. It was full and for me the blockchain event of the year to date. "
As such, the German entrepreneur is "more than convinced" that the upcoming Malta Blockchain Summit will show that the island is "really in the limelight of global blockchain development" with thousands of participants from all over the world. world. "And he can proudly call himself Blockchain Island," he said.
Crypto Exchange and Malta Exchange
In the case of Binance, the world's largest cryptocurrency exchange by volume of trade, the Memorandum of Understanding (MoU) was signed last month (11 September) with MSX Plc, the fintech and digital subsidiary of the Malta Stock Exchange.
This initiative included the launch of a new digital security token trading exchange, with the new trading platform ready to exploit the 26th Malta Stock Exchange track record operating as a regulated stock exchange.
The memorandum of understanding follows a decision by Binance to extend its business to Malta, in recognition of the country's cryptic climate. Changpeng "CZ" Zhao, CEO of Binance, commented at the time: "Malta has become a global center for blockchain technology through active and transparent encrypted regulations." (Note: Zhao's equity was put in the north by $ 1.1 billion from Forbes in February 2018).
And, when I visited the Valletta exchange this July for a tour, one could see that the space was sidelined for the fintech innovative start-ups in the building's incubator centers.
In addition to admission and trade, the exchange that resides in the Garrison Chapel overlooking the harbor offers a full range of back-office services.
This includes the maintenance of equity and bond registers, clearing, settlement and custody services through its Central Securities Depository (CSD), which is located on-site. It also has a link with Clearstream Banking in Frankfurt (part of Deutsche Boerse), and in Luxembourg which facilitates international access.
As Simon Zammit, managing director of the Malta stock exchange during my visit, explained the exchange announced in May 2107 that he should continue to use Deutsche Boerse's commercial technology, extend an agreement from 1 January 2017, for another five years from that point – until 31 December 2021.
They also extended trading hours from 9:00 to 19:30. Zammit emphasized that Deutsche Boerse's technology was "extremely reliable" and highly performing. The partnership has been in place since 2012.
Boasting what the organizers claim are 5,000 delegates taking part in the huge event in a few days, hundreds of investors, around 100 speakers and around 300 sponsors and exhibitors, the Blockchain summit in Malta will prepare the stage to announce the new crypto, ICO and blockchain regulations for Malta, as well as host debates covering potential blockchain applications in a myriad of sectors such as entertainment, government and banks.
Well, this is the reason that has spread from the island in recent weeks by the organizers.
A delegate with whom I spoke to CoinAgenda Europe (2018) on the island ventured in relation to the best – or perhaps "right" jurisdiction – for the companies and the encrypted regulations or risky blockchain: "Everyone decides to choose what he thinks is the right nation And now it seems clearly to be here [Malta]. We'll see if it lasts. I think he has a good chance of staying here. But my motto is: jurisdictional diversification. "
Proactive approach
It is the farsighted approach of the Maltese government to the regulation of blockchains, their low tax on companies, which is part of the European Union (EU) zone and the hot climate that attracts the large number of various companies related to the blockchain to escape to Malta and the tendency to migration is incremental.
In fact, when I was in Malta last June for the CoinAgenda 2018 event during which Joseph Muscat, the Prime Minister of Malta, gave a keynote speech, you could be forgiven for thinking that you were in heaven.
Siim Õunap, the COO of Celerexx, a new exchange launched in 2019, commenting on the legal landscape, said: "The Maltese government is trying to get companies scrambled to increase its economy for a while and have had success in their approach ".
Estonian added: "While their government departments and legal procedures are behind e-countries such as Estonia or Lithuania, special regulations allow Celerexx to offer lower prices and better services to our customers , which makes [for us] the transition to Malta is worthwhile. "
It is not just exchanges that choose an environment more favorable to Malta for their operations. Coinvest, the cryptocurrency investment company, has announced a new partnership with the Maltese government to establish a blockchain council. In addition, the new regulatory framework also supports ICO companies in their financial products, attracting many new and innovative projects to establish their base camp on Blockchain Island.
Malta's Blockchain Summit and new invoices
During the Blockchain summit in Malta, three new technology bills for decentralized accounting accounting will come into force: (1) Malta's digital innovation assistance law; (2) the innovative technological agreement and the services law; and, (3) The law on virtual financial assets.
Together they will provide what is described as a "clear and navigable" framework for innovative technology companies so that rules and governance are not the innovation checkpoints. The Blockchain and cryptographers argue that the current indecision and semi-conscious regulation of most national regulatory bodies are equally inhibitory and short-sighted – such as the absolute ban on innovative solutions.
The Malta Digital Innovation Authority Act establishes the governance body to regulate the technology of Distributed Ledger Technology, or DLT, with its main objectives to ensure that companies accepted as technology service providers and the services they provide comply with the principle to be honest and transparent to protect consumers and financial markets.
The Arrangement and Service Technology Agreement was created as the future-proof scheme for the registration and certification of Technological Services Providers and Technology Agreements as it provides for the possibility of unforeseen technological developments.
The Virtual Assets Act is a framework within it's Financial Instruments Test that provides a clear indication if cryptocurrency or tokens issued in an ICO would qualify as a financial instrument that must be regulated as a security or virtual token that does not fall scope of the regulation.
If the activity can not be classified as one of the two, it will be considered as a virtual financial resource and regulated by the new law after application. ICOs and crypto exchanges can now breathe easily knowing that they are in agreement with the authorities and do not have to worry about being turned off.
Prime Minister Joseph Muscat, who will inaugurate the regulatory conference, in giving a keynote speech on July 16th at the CoinAgenda Europe event (2018) at the Westin Hotel, St Julian, described the issue of the three new laws as a "radical revolution" of the legislation (ie covering the blockchain, the crypto and the space of digital goods), saying: "This is not the end but only the beginning and the Maltese government had to be innovative".
One of the most awaited speakers of the conference is dott. W. Scott Stornetta, co-author of an article describing for the first time a digital hierarchy system that used digital stamps for order transactions, the solution that called the Satoshi Nakamoto entity later used in its Bitcoin protocol. This earned Dr. Stornetta recognition as the founding father of blockchain technology.
The Winklevoss twins they participate as VIP investors and John McAfee, the famous programmer and man of British-American business, who came across a Blockchain cruise from Barcelona to Monte Carlo this September organized by Coinsbank, is now confirmed as a speaker for the summit's developer conference.
In 1987, he founded McAfee Antivirus and under his guidance the company made a dramatic rise to the top of the IT security industry. If its ruling note to the delegates on the Royal Caribbean cruise ship is something to be done, the delegates of the Blockchain summit in Malta will hardly feel soon changed.
And not to be overtaken by its human counterparts, Sophia, the humanoid robot Artificial Intelligence (AI) has been confirmed as a speaker at the next Summit. The citizen of Saudi Arabia will join his creator in a chat at the fireplace during the work. Tutto riporta alla memoria Amelia, un'assistente personale digitale di IPsoft, che ho visto in azione all'inizio di questa estate nel distretto finanziario di New York a Cipriani.
The Creazione di Hanson Robotics è diventato qualcosa di un tesoro dei media, che appare nei popolari talk show a tarda notte, nelle copertine delle riviste, e nel prendere posti ricercati su pannelli di prugne e conferenze ad alto livello. Il suo status di icona culturale le ha permesso di innescare conversazioni avanzate su come la robotica e l'intelligenza artificiale permetteranno la vita delle persone.
L'evento ha già attirato orde di investitori per assistere a una battaglia ICO che fornisce un'opportunità preziosa per trenta compagnie basate su blockchain per ottenere supporto per il prossimo passo nella loro tabella di marcia.
Uno di quegli ICO che parteciperanno al Malta Blockchain Summit è Zelectrix, un team di specialisti di talento che cambierà il modo in cui i veicoli elettrici (EV) e la propria flotta di noleggio EV sono alimentati con caricabatterie migliorati che utilizzano energia rinnovabile e supportati dallo stato di -la-art blockchain di intelligenza del pensiero.
Raido Lensment, CEO di Zelectrix, commentando: "Nell'ambito del servizio ai nostri clienti che utilizzano i nostri caricabatterie e la rete di energia rinnovabile, stiamo cercando di creare prodotti finanziari come parte dello schema di pagamento di Zelectrix".
Ha aggiunto: "La nostra ricerca sta dimostrando che Malta potrebbe essere la scelta giusta per la nostra azienda e l'opportunità di presentare il nostro progetto al Summit di Blockchain a Malta è molto anticipata dal nostro team. Speriamo solo che i fratelli Winklevoss ascolteranno. "
Il summit di Malta Blockchain, è già in via di diventare un evento di riferimento annuale nel calendario blockchain globale. E quando ho parlato con uno degli organizzatori, Dennis Avorin, un cittadino svedese, all'inizio di ottobre era abbastanza certo che l'evento vedesse una ripetizione nel 2019.
Gli organizzatori invitano anche i dirigenti e gli investitori di "livello C" all'interno della sfera alle cene esclusive di invito tutto l'anno con il titolo a tema maltese "Knights of Blockchain".
Eman Pulis, Founder of the Malta Blockchain Summit, said: “I wish to welcome every blockchain enthusiast to the Malta Blockchain Summit, a melting pot for global influencers in technology, civil society, democracy promotion and innovation.”
Pulis amongst others said that we can “expect riveting discussion” about the world-changing potential applications of blockchain across multiple verticals. “But also, some good, old fashion networking under the sun of the Blockchain Island,” he added. And, given the scale of the event, if they had motto it would be that “Business is not made between companies – it is made between people.” Time will tell.