The winds of change are blowing strong as Malta looks to become the global leader in terms of cryptocurrency trading volume, startups registered on the island, and the number of expressions of interest by companies looking to come and do business there.

As Prime Minister Joseph Muscat has said, Malta and its leaders have a strong focus on blockchain and cryptocurrency, having legislated rules and regulations around a technology faced with disdain and unwarranted obstacles in many other countries.

Overwhelming attendance

The Malta Blockchain Summit is minutes away from the start of its second day – third if you include the registration and networking day on Wednesday – and already has proven to be a massive success with more than 3,000 more attendees than organisers of the event had initially expected, Dennis Avorin (a Malta PR consultant and one of the organisers of the event) told Coin Rivet this morning.

“Initially, we feared the possibility of not filling the hotel. We didn’t even expect 5,000 and then, well, we have over 8,000 attendees and have filled the conference area almost beyond its legal limits,” he said.

“The amount of people at the summit is a clear indication of where blockchain and cryptocurrency are headed… not only in Malta, but around the world,” he added.

Firms to triple in next few years

Currently, there are about 100 blockchain and crypto firms registered in Malta, “but after what has happened here and judging by the number of parties expressing interest in establishing their companies on the island, we can safely say this number will triple within the next few years”.

Avorin told Coin Rivet that UK entrepreneurs top the list of attendees to the summit. “A sixth part of the people here are locals. British are far more in number. There are also many more from the US and the rest hail from countries around the globe.”

And as Scott Stornetta, one of the principal founding fathers of blockchain, said in an exclusive interview with Coin Rivet, “it’s time for those who initially lashed out at blockchain and crypto, to reconsider their opposition” to a revolutionary technology that is increasingly proving the enormous benefits it brings to the world we live in today.