Co-founder of Apple, Steve Wozniak, has had an eye on Malta for decades and chose the Island as a jurisdiction to launch a new blockchain based energy savings firm. The company is called EFFORCE and sets out to assist people to save money on energy through the use of blockchain technology, in addition to preserving the environment.
Wozniak stated that the blockchain technology can reduce energy consumption without changing consumer habits. The technology is also more secure compared to the use of standard servers.
Why Malta as a Jurisdiction
The reason for choosing Malta is because of the government providing legal certainty to blockchain based companies through its legislation. Additionally, Malta has been on Wozniak’s mind for a long time as a country to settle down in.
The Government of Malta has had great success by investing in new technology when introducing 3 bills to regulate blockchain and crypto companies. Some notable companies such as Binance and OKCoin moving their business to Malta has shown the regulation put in place supports new technologies through a framework attractive to businesses and at the same time safeguarding consumers.
Malta has also adopted blockchain technology into it’s administration by storing academic qualifications and rental contracts due to the new rental reform coming into force.