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8,500 Attendees Ignite Blockchain Island

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The inaugural edition of the Malta Blockchain Summit has been a resounding triumph. Held on the 1st to 2nd November, at the Intercontinental Hotel, St. Julian’s – the Summit saw intense interest, from both local and global quarters, with 8,500 attendees turning up for the event.

The success of the show means the Summit will likely move to a larger venue better equipped to handle the scale of a growing Summit.

The Summit marked its entry as a key player on the island’s blockchain calendar, with the official launch of Malta’s DLT regulation acts announced during the Regulatory Conference. The three pieces of legislation moved swiftly through parliament, with approval conferred in July and August, before officially coming into effect on the first day of the Summit.

The new DLT regulation bills to mark Malta’s induction to a global hall of fame as the Blockchain Island are: the Malta Digital Innovation Authority Bill, Innovative Technology Arrangements and Services Bill, and the Virtual Financial Asset Bill.

The launch of the bills comes in tandem with relocation from major players in the crypto sphere, such as Binance, OKEx and ZBX, and government promise to make the aptly dubbed Blockchain Island a hub for blockchain excellence.

With notable denizens of the industry, such as cryptocurrency evangelist and business guru, John McAfee, blockchain father and co-founder, W. Scott Stornetta, Hanson Robotics creation, Sophia the humanoid robot, and the Honourable Joseph Muscat, Prime Minister of Malta, addressing riveted audiences, the summit carried an aura of prestige and quality.

“I came to talk about the early work that we did, laying the foundations pre-Bitcoin for the blockchain. It is a little frenzied and very crowded. I think they succeeded a little too well in attracting people here.” said W. Scott Stornetta.

“I think it is an excellent summit. The quality of the attendees and the people presenting is excellent, it is well organised. Eman Pulis, the Founder of the Malta Blockchain Summit, is tremendous. But basically I came, so that I could talk, which I did. I want to tell the world, as I see it.” said John McAfee.

A competitive Hackathon for developers was overseen by a panel of some of the most influential movers and shakers in the industry. The judging table made place for esteemed individuals such as Scott Stornetta, Charles Hoskinson, Ilya Smagin, and Lucas Park.

Blockchain Charity Lottery took first place and a coveted prize of €25, 000, with TPass and Tensegrity coming in at second and third place and winning €15,000 and €10,000 respectively.

A heated ICO Pitch lit up the stage on both days of the Summit, as 35 ICO’s battled it out for invaluable mentorship from a line-up of savvy investors, industry exposure and a share of the $100,000 prize. Startups Rise and AEToken took first and second place on Day 1 and Tatau and GoMama grabbing the crown on the second day of the Pitch.

A new government AI strategy was announced during a press conference held at the Malta Blockchain Summit. The Junior Minister for Financial Services, Digital Economy and Innovation, Hon. Silvio Schembri launched a task force which will design a national strategy on AI and explore a citizenship test for robots – placing Malta amongst the top 10 nations in the world to do so.  Malta.ai will work in collaboration with SingularityNet, the company behind Sophia, the humanoid robot’s AI.

An elegant Halloween-themed awards night launched the two-day summit with a slew of prizes being handed out to companies who have made their mark in the industry – with winners being recognised for a plethora of achievements, from ICO of the year to AI of the year.

The full list of winners included the ICO of the Year: ChiliZ; Affiliate of the Year: ICObench; Lawfirm of the Year: Chetcuti Cauchi Advocates; CSR of the Year: Binance; Careers program of the Year: DQR; Start-up of the Year: ICO Launch; Mining initiative of the Year: Genesis; Investor of the Year: Exante; Crypto Exchange of the year: OKEx; Media Agency of the year: Cointelegraph; Innovator of the year: Revolut; IoT of the year: Greenspider; AI of the year; SingularityNET, and Outstanding contribution to the Blockchain Island: Steve Tendon.

The Summit ended with a number of lavish dinners, a spectacular closing night event and a grand evening tour of Malta’s fortified harbour during the Crypto Cruise.

“I wish to thank everyone who attended the Malta Blockchain Summit for the overwhelming feedback! This week the Blockchain community accepted me and my team as part of the family. I look forward to contribute and help drive this technology forward by doing what I love the most – events!” said Eman Pulis commenting on the monumental success of the Malta Blockchain Summit.

 

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Security Token News

KoreConX partners with SME Brokers

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Integration

It was announced recently by KoreConX that they have partnered with and Australian start-up, known as SME Brokers.

This partnership entails SME Brokers exclusively using the platform offered by KoreConX.  In doing so, they will bring the benefits made possible through digital securities to their network of enterprises.  With a portfolio of over 60,000 SMEs worldwide, their reach is far extending.  Each of these companies will now have the ability to issue their own security tokens with ease.

This platform, offered by KoreConX, utilizes their very own security token protocol.  These are known as KoreTokens.  These KoreTokens incorporate AI to self-govern.  This means that these tokens will always remain compliant to regulations throughout their lifecycle.

It is this type of flexibility afforded through KoreTokens and the KoreConX platform that attracted SME Broker.  With KoreConX currently undergoing their very own STO, and utilizing the KoreToken for the process, they should be well set to make their mark in the industry.

KoreConX

Undergoing a recent expansion, SME Brokers now find themselves with operations on both Wall Street, and in the heart of Silicon Valley.

The team at KoreConX describes themselves as a utility knife.  Their developed platform is diverse in its functionality. Through it, they are able to provide any needed assistance to a company throughout their growth cycle.

In recent weeks, KoreConX has announced similar partnerships with both Evoke Capital, and BlockchainAgility.  Those that have come on board to utilize the KoreConX platform are part of what they call the ‘KorePartner Ecosystem’.

Commenting on the SME Broker integration was KoreConX CEO, Oscar Jofre.  He stated, “As a global platform, it is important for us to demonstrate we have KorePartners who understands our business and supports it 100%.  SME Brokers is just that partner for us at KoreConX. They understand small and medium-sized companies and see the changes in the global marketplace…This is why they support our security token protocol and platform exclusively in Australia, and we are thrilled to have them part of our family of KorePartners.”

With the developing of their KoreToken, KoreConX has broken the mold of utilizing ERC-20.  In recent weeks they have spoken out on their protocol.  They believe it will better serve not only companies like SME Broker, but the industry as a whole.

SME Brokers

Through its access to various forms of management and development programs, SME Brokers is able to aid the growth of their network of SMEs.  Now, with this partnership, their toolbox for helping companies grow has grown even larger.

SME Brokers’ managing director, Michel Aliphon, spoke on the use of the KoreConX platform.  He stated, “We always strive to provide the best solutions to our clients. We can rest assured knowing that KoreConX developed a security token protocol and an all-in-one platform that is mainly focused on compliance and follows the regulations in multiple jurisdictions.”

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Security Token News

Vertalo Partners With Securrency, Integrating Protocols Into Platform

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Integration

Vertalo and Securrency have announced a new partnership.  This will see Vertalo integrate token protocols developed by Securrency onto their platform.

This platform integration will allow for Securrency to benefit from the cap table services, compliance oversight, and other offerings by Vertalo.

One such offering will be open to those that issue their own security tokens via Securrency.  They will now gain access to Vertalo’s ‘Liquidity Enablement Platform’.

What all this means is that companies interested in issuing their own digital security, can do so with relative ease.  They will be able to rest assured, knowing that their issued tokens are fully compliant with securities regulations.  At the same time they will also benefit from an increase in coveted liquidity.

Protocols

These protocols are known as CAT-20, and CAT-721.  Each are tailored for use as security tokens.  CAT stands for Compliance Aware Token, and is marketed as an ‘interoperable ledger-agnostic security token protocol’.

After issuance, these tokens can be utilized on any blockchain.  This may range from ETH to EOS, and even STR.  These tokens inherently govern themselves, to ensure constant adherence to regulations.

The announcement of these protocols was made in early October in a press release.  Here, Securrency CEO, Dan Doney, stated, “We developed the CAT-20 and CAT-721 standards because security tokens should be truly liquid – they should not be limited to one ledger and they should be easy to trade, transfer and regulate…This new protocol will enable speed, efficiency and transparency for issuers – from Wall Street to Main Street – while meeting compliance at a global scale.”

Vertalo

Founded in 2017, Vertalo is based out of Austin, Texas.  They specialize in both compliance and communication services, for companies based on blockchain.

Speaking on the partnership with Securrency was Vertalo CEO, Dave Hendricks.  He stated, “Securrency has identified compliance as a precondition for adoption of digital assets by regulated financial institutions.  Through its integration with Vertalo’s Registry and compliance service, Securrency enables issuers, broker-dealers and custody platforms to launch offerings that eliminate regulatory hurdles and meet internal risk management requirements.”

With other partners such as OpenFinance, Polymath, PrimeTrust and more, Vertalo is set to become a major player within the security token industry in the coming years.

Securrency

Founded in 2015, Securrency is based out of Washington, D.C.  They are a technology company that facilitates the issuance and trading of digital securities.

Speaking on the partnership with Vertalo was Securrency CEO, Dan Doney.  He stated, “Through this unique pairing, Vertalo and Securrency will be able to provide their clients with the promised compliance alongside improved liquidity for their assets, thus ensuring a seamless trading process unparalleled by other organizations. We believe that this collaboration will help us follow through on our commitment to simplicity and transparency for our clients.” 

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Security Token News

Malta To Have First Gold Back Security Token

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Malta To Have First Gold Back Security Token

The crypto friendly country of Malta is again in the news after the signing of a Memorandum of Understanding (MOU) regarding the issuance of precious metal-backed tokens. The agreement explains the intent of the Canamex Gold Corporation to issue a gold and silver backed token.

These security tokens are the first precious metal-backed tokens to receive official licensing from a government. Canamex Gold Corporation plans to list their new tokens on the Malta Digital Exchange (MDX). There are significant advantages that the MDX partnership brings to the equation.

For one, MDX is based in Malta. Malta is a pioneer in the blockchain space. The country was one of the first in the world to release crypto legislation which included specifics regarding distributed ledger technology. It is this regulatory framework which makes Malta an ideal location for blockchain-based businesses.

Speaking on the strategic partnership, MDX CEO Rick Klink discussed the advantages gained from working with Canamex Gold Corp. He spoke on blockchain technology and its ability to “democratize capital markets globally.” He explained how the transparency provided by this innovative FInTech is essential for the development of the market.

Rick Klink via Linkedin

Rick Klink via Linkedin

Last month MDX announced the launch of their institutional grade security token platform. After recognizing the growing need for more regulatory measures, executives decided the security token arena fit the company’s goals. The platform utilizes Paritech technology that simplifies the trading process. Additionally, the exchange received licensing from the Malta Financial Services Authority.

MDX Adds Liquidity

MDX will provide a secondary trading market for Canamex Gold’s GOLDUSA and SILVERUSA tokens. Canamex Gold’s CEO described the partnership between the two as an exclusive deal that has the potential to “move the needle” in terms of security token adoption.

By speaking on “moving the needle.” Klink pointed out the fact that the concept of precious metal backed tokens is not new. Numerous firms such as GOLDX have offered similar services since the beginning of the year. The Russian government even discussed the concept in September 2018. What makes the MDX partnership deal unique is the use of security tokens.

Security tokens adhere to strict government standards. Unlike utility tokens, all security token offerings require the token issuer to provide company information such as financial statements, management process, and company location.

These requirements protect investors from the high level of fraud committed in the cryptospace every year. The Statis Group conducted a study that found that 80 percent of ICOs in 2017 were scams.

Likewise, investors must provide additional information when compared to a traditional utility token transactions including undergoing identity verification. There are no anonymous security token transactions. Security tokens follow securities guidelines.

Malta Sets the Stage

Both the US and EU have shown signs of hesitation when approaching the regulatory framework needed to further security token adoption. The Maltese Parliament saw the need for detailed crypto regulations and took the initiative. Now, Malta intends to take the lead in security token adoption.

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