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

The Malta Business Weekly - - FRONT PAGE -

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.

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