Malta may be relatively small in area but it has big blockchain ambitions. It is famous as a tax haven but now it wants to be known as the ‘Blockchain Island’. In October Malta will host the first official blockchain summit where one of the speakers will be W. Scott Stornetta, one of the founding fathers of blockchain technology. Malta’s Delta Summit will take place from October 3 to October 5, 2018.
While Satoshi Nakamoto is widely credited with creating Bitcoin he based his work on research that Stornetta and his colleague Stuart Haber had conducted. In Nakamoto’s white paper, Bitcoin: A Peer-to-Peer Electronic Cash System, Haber and Stornetta are referenced thrice for their work on various subjects including time-stamping digital documents, improving the reliability and efficiency of digital time-stamping as well as the use of secure names with regards to bit strings.
Studied at Stanford University
The two, who are both alumni of Stanford University, did most of their work in blockchain and cryptography while working as research scientists at Bell Communications Research. According to their LinkedIn profiles Stornetta is currently the chief scientist at First Digital Capital, an investment management firm based in Australia, while Haber holds a similar position at Auditchain.
At Malta’s blockchain events four conferences will be held. Besides Stornetta other speakers will include the founder and CEO of Binance, ChangPeng Zhao, and a co-founder of Wikipedia, Larry Sanger. Some of the activities that are lined up include an ICO pitch, a Blockchain Awards ceremony and a two-day hackathon. More than 4,000 delegates and 150 exhibitors and sponsors are expected.
Crypto exchanges relocating to Malta
Malta’s efforts to become a haven for cryptocurrency blockchain startups have been paying off handsomely lately. The island nation now boasts of having the highest volumes of cryptocurrency trading in the world with two of the world’s largest cryptocurrency exchanges, Binance and OKex, recently announcing plans to relocate there. And now BitBay, a cryptocurrency exchange based in Poland has indicated that it is moving to the island too. This is due to the due to the restrictions placed on the crypto exchange in Poland that prevent it from opening a bank account and thus making it impossible to do business.