Malta has quickly become a Mecca for blockchain and crypto companies looking to legitimize themselves. Opening the door to this growing sector, little Malta is making a big splash in the digital age. The level of impact that Malta is making can be seen from the sheer size of the Malta Blockchain Summit – an event that had the entire blockchain space buzzing with excitement.
Over 8,500 delegates and some of the biggest names in the blockchain space attended the summit, which is in its inaugural year. The presentations from keynote speakers such as John McAfee, Joseph Muscat, Sophia Bot, and Scott Stornetta blew away the packed-out conference room.
As expected, the BitStarz News team was on-hand to witness it all, as we were on the ground and in the crowds at one of the most talked about blockchain events in recent memory.
Top Quality Exhibitors
Unlike a few other blockchain conferences this year, the Malta Blockchain Summit was jam-packed full of high-quality exhibitors looking to break onto the scene. Stasis – the company behind the first Euro pegged Stablecoin – was showing off its market-leading product that is helping Eurozone investors reduce fiat risks from their crypto investments.
In addition to Stasis, there were some interesting products on show, such as four-factor authentication from Pyxis, crypto tax specialization from Deloitte, a blockchain-based digital assistant from Genki, and a digital securities exchange from Finhaven.
Trouble at the Hackathon
One company at the hackathon got more than it gambled for, as white hat hackers managed to gain access to its systems and run amok. The blockchain-based casino invited hackers at the hackathon to try and gain access to its system and help discover any security flaws. One hacker focused his attention towards its provably fair roulette game, whereby users are shown a hash of the next outcome.
The hacker managed to develop a system whereby he could predict the next seed that was used to make the hash completely random. This in turn allowed him to “predict the future,” as he knew every result of the roulette wheel before it was even spun. In the true spirit of hackathons, the workaround was shown to the casino, who can now head back to the lab and figure out how to patch this hole. Given recent developments, EOS Bet could learn a thing or two from this hackathon.
Investors on the Prowl
The Malta Blockchain Summit was definitely the place to be for ICOs and blockchain startups like Tree Coin, Sabi Global and Honey Box. There was an incredible number of investors looking for new projects to back and lend their experience to as well as a $10,000 ICO pitch battle. Investors carefully scrutinized every project on offer over the two day period and some exciting firms managed to walk away from the event with a world-class investor on board. Given the buzz of the event and the amount of investor interest, it shows that there are exciting times ahead for the blockchain industry.
New Laws Go Live
On the first day of the Malta Blockchain Summit, Malta’s new crypto-friendly laws finally became active. This marks a massive achievement for the tiny island, as it’s now officially one of the first countries in the world to regulate the crypto and blockchain industry. Malta passed the bills back in July, but it has taken the government additional time to perfect the laws and iron out the bugs – better to be safe and take a little longer. Since November 1st, a raft of companies – including Multiwallet – have already begun the application process to acquire a Maltese blockchain regulation certificate.
There were times at the Malta Blockchain Summit where it was impossible to walk around the floor, largely due to the huge volume of delegates and attendees, a clear sign of success. The event organizers have already said that there will be a Malta Blockchain Summit 2019, and tickets are due to go on sale roughly six months before the event.
The Malta Blockchain Summit was undoubtedly a huge success, so hopefully we’ll see you next year at the second edition, as we’re sure that it’s going to be just as fun!