“Blockchain Asked and Malta said YES! BUT WHY MALTA?”

“Blockchain Asked and Malta said YES! BUT WHY MALTA?”

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First, where is Malta?

Exuberating Republic of Malta is at the heart of the Mediterranean, right off the island of Sicily -South of Italy, the smallest member of the EU with just about 122 sq. mi, yet with a dense population of over 430.000 people, it is the largest island of the Maltese Archipelago, alongside Gozo, Comino, Comminoto and Filfla. The country has 365 Catholic Churches, 5.000 year old temples, and probably needless to say it´s beaches are absolute eye candy.

Best area to visit in Malta: Valletta is the capital of Malta considered one of the world´s heritages by UNESCO, along with 2 other sites in the country, it also has over 300 historical architectures sights to see.

Best beaches in Malta? Ta’ Fra Ben (Qawra Point) , Armier Bay and Little Armier, Ġnejna Bay, just to name a few, there are dozens of amazing beaches, after all this is in the Mediterranean.

Malta is a richness of beige, lots of beige and colorful doors, luxurious weddings, and a place where the richest people around world flock to in order to find relaxation and an immense amount of culture and history. But it´s not a place just for the rich, it is considered one the most affordable places to travel to compared to the rest of Europe.

Image credit: shutterstock

Malta Language.

The official languages are Maltese which is a mixture of Arabic and Italian, and alongside as an official language they also speak English, yes, indeed English! It became an official language after the 160 years of the British colonization, and today the fact the island “speaks English” opens a path for expats and international businesses.

The Greeks, Romans, Arabs, Normans, the French and the British as mentioned, have given their try into conquering this “gold mine” of a nation.

But, Malta gained its independence on September 21st, 1964, and today carries the a little bit of each culture that has passed through, which reflects in their gastronomy, architecture and languages.

This is a nation known for its hospitality and caring nature seen even during WWII when they were receiving hurt soldiers, which were being carefully cared for, even with very little or no supply at all, doctors in Malta were ready to assist.

Their kindness and welcoming spirit still extends to this day as it is palpable in its people, whom are very open to different religions and tourists.

According to BBC, along with 7 other EU nations, Malta has become a major destination for migrants even in our days. It has been receiving boats with refugees and giving them a place to call home, never missing a chance to show their generosity.

Are you in love with Malta yet?

There is so much to see and learn about the best of Malta, it´s history, military, political, economics, but unfortunately we cannot cover it all in this post but we do encourage you to proceed with your own researches. It is absolutely enchanting (no exaggerations).

Considered an offshore tax haven country it attracts companies from all around the world not only because of its tax policies but also because it is an EU nation giving them access to the European market and trading agreements.

“Companies are chargeable to tax in Malta at a rate of 35% (no tax is levied at the provincial or municipal levels). However, the application of the participation exemption, full imputation system and refund system typically result in an effective Malta tax rate of approximately 0% to 5%.” (Deloitte Taxation and Investment in Malta 2014)

Which leads us back to WHY MALTA?

At this point, you can probably guess already, Malta is everything whether to live or do business. And to complete our happiness, it is fully embracing the cryptocurrency blockchain technology.

Malta is rapidly becoming a cryptocurrency hub, and it is supported by their Prime Minister Joseph Muscat, who says “Cryptocurrencies are the inevitable future of money.”

Recently, they came up with a set of cryptocurrency blockchain regulations or three bills per se, becoming the first country to do so effectively and creating an ideal ecosystem for the innovative technology. These are:

· The Virtual Financial Assets: An application for ICOs and Startups, which will require detailed reports of the projects presented, with published financial history.

· The Digital Innovation Authority Act: Regulating cryptocurrencies and blockchain markets, led by a board of governors and CEO Steven McCarthy.

· The Arrangements and Services Act: For obtaining Registrations and procedures for services provided by blockchains; this bill is expected to be the most attractive to companies within Malta´s borders and outside its borders.

Many countries have tried regulating cryptocurrencies, but fail to do it effectively due to excessive amounts of regulations — several no- can-dos, deconstructing the decentralized nature of cryptos, leading major companies to flee to countries like Malta.

Binance for example, the biggest cryptocurrency exchange in transaction volume, has fled China due to its new regulations and is currently moving to Malta.

Malta will be holding the next epic BLOCKCHAIN SUMMIT NOVEMBER 1-2 2018 

This encounter of cryptocurrency giants is taking place to promote Malta´s cryptocurrency and blockchain platform openness, inviting companies from all around the globe and establishing Malta as one of the pioneering nations to have fully embraced the technology ecosystem.

Conclusion: We started this post with “Why Malta?” and ended up with “HOW NOT Malta?” with so many adjectives and excitement, startups, cryptocurrencies & blockchains.

This journey into a little bit of Malta´s world and new crypto blockchain achievements was quite something, did it also leave you with a feeling of “I NEED MALTA NOW!?”

Was Malta a new discovery for you or do you already have experiences with this beautiful country? Will you be attending their blockchain summit? Would you take a trip to Malta? Would you become a trader in Malta?

Let us know what your thoughts about Malta!

Please share and let us know in the comments!

The Winco Team











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