ChiliZ, a blockchainbased esports venture, announces its decision to be part of Malta’s blockchain ecosystem

The chiliZ platform is a universal sports and esports ‘crowd-control’ engine that will give supporters a direct say in managing their favourite teams. The platform is powered by the ‘chiliZ’ virtual currency and uses innovative blockchain technology and smart contracts. It is inspired by European football clubs such as Real Madrid and FC Barcelona, who are collectively managed by a democratic ‘socios’ system of club management.

The chiliZ team consists of around 20 people and has been based in Malta for the past 12 years. chiliZ announced that it has secured $27 milion through early private token placement. In a statement issued by the company, chiliZ described Malta as an EU member country with a pro-blockchain government that is actively building regulatory and technological infrastructure to support such initiatives whilst attracting the biggest blockchain-based companies.

Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri said that having companies like chiliZ, that want to be part of our ecosystem, helps for the diversification of the economy and the creation of new economic niches through this new emergent technology.

Silvio Schembri expressed his satisfaction over the interest shown since Malta issued a regulatory framework for this sector. “Several were the companies that put their trust in Malta such as Binance, Okex and Neufund and others will soon be joining this ever-growing Blockchain community,” said Schembri.