The Government is working on a plan which will allow the use of cryptocurrencies in iGaming, where a player will be able to transact in digital currency in and out of gaming platforms.

Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri announced this at the launch of a blockchain application intended for the property market and developed by a private company, Ledger Projects.

Mr Schembri said that these initiatives showed that Malta was gaining momentum and moving fast in the adoption of blockchain technology.

He added that this work will enable to harness the market with the right regulation.



Parliamentary Secretary Silvio Schembri

This blockchain app, named LP01, was launched by Ledger Projects, a company incorporated in Malta with Maltese shareholders focused on developing blockchain and distributed ledger technology for state and private use.

This blockchain app eliminates the possibility of having multiple promises of sale documents on the same property, therefore it will facilitate the works carried out by notaries. It caters both for the acquisition and sale of property, increasing efficiency and transparency particularly on the tax paid when transferring property.

The CEO of Ledger Projects David Schranz and entrepreneur Anthony Mamo said that the introduction of new technology such as blockchain help Malta to become a centre of excellence.