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.
- Current developments in crypto currencies and the blockchain on Malta - 24. May 2019
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- MFSA Publishes Guidance Note Against Crypto Scams & Appoints First VFA Agents - 29. April 2019
- Blockchain & AI Summit Malta + Blockchain University Degree Malta - 20. March 2019
- MFSA Publishes Consultation Guide on Cybersecurity Regulations for Blockchain Companies and VFA Agents - 12. March 2019
- Malta’s New Tech Authority: Malta Digital Innovation Authority (MDIA) - 5. March 2019
- OECD report: ICOs for SMEs an appropriate form of financing — under certain conditions - 11. February 2019
- Malta Warns Of Crypto Scams & Takes Blockchain Risks Seriously - 5. February 2019
- 5 Good reasons for locating a business in Malta, Blockchain Island - 14. January 2019
- Malta Initiates Task Force for Artificial Intelligence - 16. November 2018