First Maltese blockchain app launched

The app caters for the acquisition and sale of property, eliminating the possibility of multiple promises of sale documents.

28 September 2017, 6:32pm
Parliamentary secretary for Digital Economy Silvio Schembri said that these initiatives show that Malta is
Parliamentary secretary for Digital Economy Silvio Schembri said that these initiatives show that Malta is "gaining momentum" in the blockchain sector. Photo:DOI
The first Maltese blockchain app, LP01, was inaugurated by parliamentary secretary for digital economy Silvio Schembri earlier today.

The app, launched by Ledger Projects, a blockchain company incorporated in Malta, eliminates the possibility of multiple promises of sale documents on the same property.

LP01 caters both for the acquisition and sale of property, and allows the Government to have concrete information on the market.

“These initiatives show that Malta is indeed gaining momentum and moving fast in the adoption of blockchain technology,” said Schembri

Parliamentary Secretary Silvio Schembri reiterated government’s intention in making use of blockchain technology so that services provided by the public sector will be more efficient.

Gamers will soon be able to make use of cryptocurrency, Schembri said, allowing players to transact in digital currencies in and out of gaming platforms.