The equity token fundraising network Neufund is expanding to Malta to support the country’s development of the blockchain system, according to Neufund‘s blog post.
The announcement was made on 17th April 2018 by Neufund. The Berlin-based startup became the latest blockchain company to help Malta develop its digital ecosystem. The company confirmed that it was attracted by the freedom of action in the country and the friendly regulation regarding the crypto and blockchain networks.
By the end of March 2018, the largest crypto exchange by trading volume, Binance, has announced its expansion to Malta. Also, last week, another crypto trading platform, called OKEx, announced its decision to install on the Mediterranean Island.
“[Virtual currencies] will form the base of a new economy in the future,” stated the Prime Minister of Malta, Joseph Muscat.
There is a high potential to improve Malta’s financial and technological system through the adoption of blockchain technology.
“There is huge interest in the blockchain industry from all across the globe and it has the potential to be even more beneficial to the Maltese economy than igaming,” added the Digital Economy Parliamentary Secretary, Silvio Schembri.
The Malta Digital Innovation Authority will take care of new regulations
In order to promote and support Malta’s development, the country will soon launch the Malta Digital Innovation Authority (MDIA). The organization’s purpose is to create a positive technological image of Malta and support companies that are planning to implement blockchain-based tools, applications, and other related elements. Thus, the authority will take care of the country’s new regulations.
Does Malta want to follow Switzerland?
Malta is not the first European-based nation to involve in blockchain activities. Switzerland has had a huge success with the country’s “Crypto Valley“. Planning to become a “crypto nation“, the Swiss authorities have embraced largely blockchain technology and crypto networks. Malta is an important member of the EU, the aspect that can help the country reach a higher level of innovation than Switzerland.
“Looking at Malta’s vision and progress in creating a complete blockchain ecosystem, we have decided to engage our know-how and offer support in building the blockchain future of this progressive thinking EU member state,” stated the CEO and Co-founder of Neufund, Zoe Adamovicz.
“Together with Malta’s Government, we want to kick-start the creation of crypto-friendly laws with Malta’s DLT [Distributed Ledger Technology] framework initiative already serving as a great foundation,” he added.
Neufund may be an important opportunity for Malta to develop its technological ecosystem.