”Crypto-Tower“ to Strengthen Blockchain Community in Malta

Malta’s efforts to become Blockchain Island have already cre­at­ed a lot of buzz. Indeed, Mal­ta has been able to posi­tion itself as a pop­u­lar loca­tion for blockchain- and cryp­to-start-ups. The government’s co-orga­ni­za­tion of large blockchain con­fer­ences such as the Delta Sum­mit in Octo­ber or the Mal­ta Blockchain Sum­mit have con­tributed to this.

While more and more start-ups from all over the world are show­ing inter­est in mov­ing to Mal­ta, a new prob­lem aris­es. Where should these start-ups find a suit­able, cheap and well-con­nect­ed office space?2 clever real estate devel­op­ers have rec­og­nized the need and have a pos­si­ble answer ready. With a genious PR strat­e­gy, the planned devel­op­ment of a ten-storey office tow­er for blockchain start-ups has now been pre­sent­ed. The “Cryp­to Tow­er”, a prop­er­ty with 10 floors, is to open its doors in St. Julian’s at the end of 2019.Modern Cowork­ing Con­cept with Sec­re­tari­at Ser­vices

As the Times of Mal­ta reports, the Tow­er is to be based on a cowork­ing con­cept, i.e. mem­bers do not nec­es­sar­i­ly have a per­ma­nent­ly allo­cat­ed office of their own. Instead, they pay a mem­ber­ship fee to use the premis­es and facil­i­ties with­in the office build­ing.

Kevin Buttigieg, one of the own­ers of the build­ing still to be con­struct­ed, says that an office desk, sock­ets and sec­re­tar­i­al and copy­ing ser­vices could be used. They have focused on the cowork­ing approach so that start-ups can be pro­duc­tive from day one, rather than wor­ry­ing about office fur­nish­ings, rental fees or man­ag­ing office space. Because start-ups need to grow and scale rapid­ly, require­ments for office space can change quick­ly. The flex­i­ble struc­ture with­in the tow­er would be the per­fect solu­tion for this.

Yet the well-being of the work­force and enter­tain­ment out­side of work are also tak­en care of. In addi­tion to the mod­ern meet­ing rooms that can be rent­ed on an hourly basis, there are relax­ation ter­races, two cafe­te­rias and a rooftop gar­den that can be used for fes­tiv­i­ties. Part of the premis­es will be reserved for enter­tain­ment and facil­i­ties such as table foot­ball and PlaySta­tion. A fit­ness stu­dio is also cur­rent­ly under dis­cus­sion, and the nec­es­sary offi­cial per­mit has already been obtained.

For start-ups, the Cryp­to Tow­er can of course also be attrac­tive because they work in the same build­ing as many poten­tial coop­er­a­tion part­ners and oth­er blockchain experts. Whether in the cafe­te­ria or while play­ing table soc­cer — employ­ees can dis­cuss the lat­est devel­op­ments and trends, but per­haps also use cas­es — or find the next project mem­ber right away.

10-Storey Crypto Tower Already Under Construction

Although the con­struc­tion of the build­ing has only just been announced while the Mal­ta Blockchain Sum­mit was tak­ing place, in fact the Cryp­to Tow­er is already under con­struc­tion. The 10-storey tow­er will be built in a cen­tral loca­tion in the boom­ing city of St. Julian’s. The tow­er was designed by the Mal­ta-based archi­tect Andrew Ellul.

Inter­est­ed start-ups and blockchain enthu­si­asts can already reg­is­ter for an office space in the future Cryp­to Tow­er. Inter­est­ed par­ties can find fur­ther infor­ma­tion under the domain https://cryptotower.mt. In the mean­time, it has also been announced that a Mal­tese cryp­to accel­er­a­tor will be among the ten­ants.

Modern Home for Start-ups On The Booming Blockchain Island Malta

Financed by French investors and mar­ket­ed by an inter­na­tion­al real estate chain, the Tow­er comes at just the right time. More and more blockchain start-ups and com­pa­nies from all over the world are turn­ing their eyes to the sun­ny Mediter­ranean island as their pos­si­ble head­quar­ter.

Dri­ven by a gov­ern­ment com­mit­ted to inno­v­a­tive and tech­nol­o­gy-friend­ly leg­is­la­tion and the future tech­nol­o­gy of the Blockchain, Mal­ta has become per­haps the most attrac­tive loca­tion for the estab­lish­ment of a Blockchain start-up or the orga­ni­za­tion of an Ini­tial Coin Offer­ing (ICO). A mod­ern and well-equipped tow­er, in which Blockchain start-ups and cryp­to experts from all over the world will work, is the per­fect com­ple­ment.

As an EU mem­ber state with an inter­na­tion­al­ly well-con­nect­ed air­port (more Euro­pean con­nec­tions than Heathrow), Mal­ta not only offers great legal con­di­tions and an attrac­tive infra­struc­ture. With almost 300 sun­ny days per year, Mal­ta is also one of the sun­ni­est Mediter­ranean islands and offers an excel­lent qual­i­ty of life.

Interesting ICO Location, World’s First DLT Framework

Mal­ta has estab­lished itself world­wide as an inter­est­ing loca­tion for blockchain start-ups and cryp­to-exchanges. The foun­da­tion for this was laid at the begin­ning of this year with the draft­ing and adop­tion of 3 leg­isla­tive ini­tia­tives aimed at cre­at­ing the world’s first frame­work for Dis­trib­uted Ledger Tech­nol­o­gy (DLT). In the mean­time, the laws have also come into force and offer inno­v­a­tive com­pa­nies from all over the world the oppor­tu­ni­ty to have their DLT mod­el assessed and cer­ti­fied by the Mal­ta Dig­i­tal Inno­va­tion Author­i­ty (MDIA).

With the Vir­tu­al Finan­cial Assets Act, 4 dif­fer­ent license class­es were intro­duced, which dif­fer in the scope of autho­riza­tions and nec­es­sary invest­ment. One of the 4 license class­es is specif­i­cal­ly designed for cryp­to-exchanges, which is why Mal­ta has already attract­ed big indus­try play­ers such as Binance and OKEx to move their head­quar­ters here.

Mal­ta is also a suit­able loca­tion for the organ­i­sa­tion of an Ini­tial Coin Offer­ing (ICO). Instead of con­duct­ing an ini­tial coin offer­ing in dubi­ous off­shore coun­tries, a pro­fes­sion­al ICO can be held with­in the EU accom­pa­nied by a licensed VFA agent and coor­di­nat­ed with the Mal­tese super­vi­so­ry author­i­ty.

Government Actively Promotes Settlement of Blockchain Start-ups

How­ev­er, the Mal­tese gov­ern­ment does not leave it to the cre­ation of frame­work con­di­tions, but has com­mit­ted itself to an effec­tive and exten­sive cam­paign. Whether it is address­ing the issue of blockchain in Prime Min­is­ter Muscat’s speech to the UN Gen­er­al Assem­bly or co-organ­is­ing major blockchain con­fer­ences such as the Delta Sum­mit and the Mal­ta Blockchain Sum­mit, the gov­ern­ment is putting its mon­ey where its mouth is.

In addi­tion, the com­pa­ny has not only ded­i­cat­ed itself to blockchain tech­nol­o­gy, but has also recent­ly made head­lines when it announced the ini­ti­a­tion of a task force on the sub­ject of arti­fi­cial intel­li­gence. A high-cal­i­bre group of experts is to draft a nation­al strat­e­gy and define mea­sures with which Mal­ta can fur­ther con­sol­i­date and expand its busi­ness loca­tion for start-ups from all over the world.

Inno­v­a­tive start-ups look­ing for an attrac­tive and tech­nol­o­gy-friend­ly loca­tion, where the leg­is­la­tor is open to the top­ic of blockchain, will find every­thing they are look­ing for in Mal­ta. The sun­ny weath­er and the beau­ti­ful beach­es at the Mediter­ranean Sea are a small bonus.

If you are con­sid­er­ing estab­lish­ing your blockchain com­pa­ny or con­duct­ing an ICO in Mal­ta, you can find out more about our con­sult­ing ser­vices in the area of blockchain and cryp­to.

About Dr. Jörg Werner

Dr. jur. Jörg Wern­er, born 27 May 1971, attend­ed the law school of the Uni­ver­si­ty of Leipzig and passed his first state exam­i­na­tion in the State of Sax­ony in 1996. After suc­cess­ful­ly com­plet­ing his manda­to­ry legal intern­ship, he suc­cess­ful­ly passed the sec­ond state exam­i­na­tion of the State of Sax­ony-Anhalt in 1998 and was admit­ted to the bar and began to prac­tice as a Ger­man attor­ney (Recht­san­walt) before the court of Magde­burg the same year. He worked as an attor­ney at the Law Offices of Prof. Dr. Fre­und & Kol­le­gen until he formed the firm of Wrede & Wern­er. He was also admit­ted to prac­tice before the Supe­ri­or Court of Naum­burg. In 2001, he moved the firm’s offices to Cen­tral Berlin, where he was admit­ted to prac­tice before the Courts of Berlin. Dr. jur. Jörg Wern­er then com­plet­ed his doc­tor­al stud­ies at the Uni­ver­si­ty of Ham­burg and grad­u­at­ed as a Dok­tor der Rechtswis­senschaften (Doc­tor of Laws).

View All Posts

Leave a Reply

Your email address will not be published.