From left: Ledger director Anthony Mamo, consultant Abdalla Kablan and CEO David Schranz
A young Maltese fintech company has just struck an exclusive partnership with Bitfury, one of the largest blockchain infrastructure providers in the world.
Ledger Projects, known locally for designing Malta’s first blockchain-based app, confirmed that the partnership will see its platform merged with Bitfury’s blockchain infrastructure. Ledger Projects will also act as Bitfury’s man in Malta, selling its range of applications to the Maltese market.
The two companies will also get to work on a programme that provides access to Bitfury’s blockchain expertise to Maltese education groups, including at the University of Malta.
Ledger Projects will approach the university to gauge its interest in receiving software usage and crypto mining guidance and in organising technical Q&A sessions on campus with members of Bitfury’s development team.
“Malta is an innovative country that has opened its doors to new technology like blockchain,” Bitfury CEO Valery Vavilov said. “Bitfury and Ledger will develop a wide range of solutions that improve the systems and services that people use every day.“
Bitfury’s CEO Valery Vavilov
Ledger director Anthony Mamo hailed his company’s partnership with Bitfury as “a big win for Malta” and another step forwards in its attempt to become “the blockchain island”.
“This is a very important achievement for Ledger Projects, but this is also a vote of confidence in the island and proof that the government’s objective for Malta to become ‘the global trailblazer in the regulation of blockchain-based businesses’ is already being achieved, as is the goal to attract world-class fintech companies,” he said.
Ledger’s CEO and technologist David Schranz said he is encouraged by the feedback he has received in Malta and overseas since his company launched last September.
Back then, it presented Malta’s first blockchain-based application – a property transfer management system which allows notaries to record promise-of-sales agreements onto the blockchain immediately after they have been signed. This system allows Maltese notaries to be instantly informed whenever a property has been sold.
David Schranz (left) and Anthony Mamo (right) from Ledger Projects at the Malta Stock Exchange
Ledger Projects’ technology consultant is Abdalla Kablan – a fintech and AI expert who is also the man behind the Delta Summit, the Maltese government’s first ever blockchain summit which has been scheduled for October and which is expected to attract several key players in the global blockchain industry.
“We believe that the distributed ledger technology will disrupt the way transactions and agreements are executed,” Ledger states on its website. “Ultimately, this will lead to the creation of an economy and society that is more inclusive and transparent. We are at the forefront of the second generation of the Internet which will enable true peer-to-peer exchange of both information and value.”
Bitfury was set up in 2011 as a Bitcoin-mining startup, but has since expanded into other aspects of blockchain technology. It now employs over 500 people in 16 countries – including the USA, the UK, Russia, Ukraine, South Korea, Hong Kong, and Japan.
It recently branched out to Norway – investing $35 million into an energy-efficient data mining centre.
Bitfury has also designed two primary software products – the asset management platform Exonum and a new anti-corruption platform called Crystal, designed for law enforcement agencies and financial institutions to track down people who launder money through cryptocurrencies.