What’s Going On?
Ethereum-based crowdfunding platform Neufund has set up business in Malta, attracted to the island’s progressive attitude towards blockchain technology.
Why Does It Matter?
The joint effort between Malta and Neufund is designed to be the next step in the state’s plan to transform its economy and create a Blockchain-friendly ecosystem, reported Crowdfund Insider.
Berlin-based Neufund is a blockchain fundraising platform that allows companies to raise money on the blockchain by issuing tokens like shares of stock. The company said it was attracted to Malta by the country’s vision of blockchain working effectively with government and the economy, reported Venturebeat.
How Is This Different?
Malta is moving quickly and taking significant steps to be a blockchain-friendly territory of choice. In February, the island government announced the introduction of Distributed Ledger Technology (DLT) Regulation. And In March, Malta’s Prime Minister Joseph Muscat said: “Millions of people already attribute value to virtual currencies, which has created an entirely new market. The concept sounds confusing right now, but I have no doubt that it will form the base of a new economy in the future. Just as we attribute value to pieces of paper, so too will future generations attribute value to electronic storage systems.”
Neufund says it has already secured capital for future investments on the platform, including contributions from VCs including Frank Thelen, Freigeist, Christophe Maire, Atlantic Labs, and corporate funds including Innogy.