Malta Excelling in its Initiative Ways to Incorporate Blockchain

Draper Associates commended Malta's approach on Blockchain

Mr. Nicholas Warren | 24 May 2018

Malta commended on its approach to blockchain

 

Tim Draper of US venture capital firm Draper Associates, praised Malta for its approach towards blockchain, during the launch of Delta Summit set to bring together leading thinkers and innovators in the sector next October in Malta. Draper Associates is known to have invested in globally important companies like Tesla, Skype and Baidu. 

Draper said that unlike most countries who are trying to fit the new technology into existing models, Malta has moved quickly to develop a framework specially customised for the technology, exploiting the country’s small size and potential for agility. The result is that Malta has an edge in this innovative industry that’s set to burgeon in a revolution bigger than the internet.

Malta's legal clarity

During a panel discussion organised for the summit launch, Tugce Ergul, founder of investor accelerator Angel Labs, said that not only did she often recommended Malta but that she would also be setting up her own fund in the country.  Founder and CEO of Binance Changpeng Zhao – the world’s largest cryptocurrency exchange relocated to Malta – said he had chosen the country because it offered legal clarity.

 

Market integrity, investor and consumer protection 

The Maltese government is legislating for a holistic technology by passing laws to regulate the sector. Three bills covering consumer protection, market integrity and investor protection are set to come in force by June.


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