Malta's government is pursuing blockchain adoption at the administrative level, with plans to modernize its company registration system using blockchain technology. Silvio Schembri, the nation
Malta's government is pursuing blockchain adoption at the administrative level, with plans to modernize its company registration system using blockchain technology. Silvio Schembri, the nation's Parliamentary Secretary for Financial Services, Digital Economy and Innovation, disclosed this ambition earlier this month.
The Registry of Companies aims to digitize its operations entirely through a blockchain infrastructure that would automate the full spectrum of registration functions while simultaneously enabling service offerings that remain unavailable under the current framework. Schembri characterized the transition as groundbreaking, positioning the registry to become humanity's first government agency operating exclusively on blockchain foundations.
The overhaul forms part of a broader modernization initiative launched after the Registry separated from the Malta Financial Services Authority last December and commenced operations as an independent entity. The agency handles the preservation and administration of corporate documentation and registration records throughout the nation.
"We're investing substantially in technological infrastructure to streamline workflows and eliminate redundant administrative layers," Schembri explained during the announcement. A newly constructed facility in Żejtun, located in Malta's southeastern region, will house the registry's relocated operations.
Expansion statistics underscore the urgency of these upgrades. Company registrations surged from approximately 58,783 in 2012 to 91,600 as of May 2019—representing a 55-percent expansion across six years. This explosive growth necessitated larger infrastructure and justifies the establishment of a dedicated agency focused exclusively on registry functions, according to Schembri, who noted that streamlined operations will enhance service delivery.
Malta has positioned itself strategically within the blockchain sector, having enacted three comprehensive cryptocurrency and blockchain legislative frameworks in 2018. The bills establish a transparent regulatory environment designed to attract crypto enterprises and establish Malta's reputation as the sector's premier jurisdiction. Numerous blockchain-focused companies have already expressed interest in establishing operations on the island.
