Waves, Malta Discuss Blockchain Co-Operation

The Mediterranean island welcomed the Waves team to talk about joint projects in the blockchain sphere.

The Waves crypto platform said on Wednesday it has started negotiations with the Maltese government to implement its blockchain technology in various public and business sectors.

At two official meetings in Malta, Waves CEO Sasha Ivanov spoke with government representatives, including prime minister Joseph Muscat and junior finance minister Silvio Schembri, as well as Malta Digital Innovation Authority CEO Stephen McCarthy and representatives from the Malta Financial Services Authority (MFSA), the company said on its Medium page.

Although the interested parties have not made any official arrangement yet, they discoursed about possible uses cases of the Waves blockchain in healthcare, land registry, voting, etc. As the Russia-based platform allows for the tokenization of assets, the discussions in Malta also touched upon the potential use of Waves to tokenize financial instruments.

In the statement’s wording, the first steps were “encouraging”, whereas the most positive result of the discussions would be Waves’ authorization to work on the island that is beginning to gain fame as a cryptocurrency and blockchain haven.

“We are interested in this accreditation and are ready to start working with Malta’s legal experts to bring our ready-to-use blockchain solutions here,” said Ivanov.

Without going into more details, minister Schembri hinted that the Maltese government might reach an agreement with Waves in the coming weeks. For the blockchain project, a partnership deal with Malta will be a further addition to the list of positive developments, the most recent of which was disclosed today. Russian state-owned manufacturing giant Rostec has agreed to work with Waves on the implementation of the Waves platform for data management. The two parties will invest an overall $2 million in the project.

Furthermore, the blockchain company released on Monday a new protocol that allows smart contracts  to run on the Waves mainnet.