Blockchain company that partnered with government in 2018 is closing shop

After the announcement, the community channel was flooded with questions by upset token holders who asked whether there were any plans for the future, or if the terms of the funding had been agreed upon, among other things. Painter attempted to reply but pointed out that he was still finding answers for the “backlog of questions”.

He told the community that Omnitude would continue its business with the new partner, depending upon the availability of funds, but stated there “isn’t any investment appetite for blockchain”.

CEO Chris Painter is answering concerned token holders after the shut down of Omnitude was announced.

On 17 May 2018, Transport Minister Ian Borg had announced the partnership between the government and Omnitude in a press statement, describing it as a deal that will see blockchain technology implemented in the operations of the Public Transport Service.

Borg has said the company would start developing a transport and logistics platform using its blockchain middleware technology. “It will form a cornerstone technology platform as part of our commitment to drive forward innovation. It will improve the quality of life and enhance access to information for Maltese citizens”.

Borg had also promised that blockchain technology would transform different sectors in Malta.

The day after Borg’s announcement, Painter had issued a statement saying that “Malta is an extremely progressive government” and that they were “excited about the potential of this partnership”. The government was described as one which “has welcomed all crypto-related projects with open arms without putting stringent regulation”.

Following this statement, little to none has been said from either side about the partnership. Now, Omnitude has closed its doors.