Maltese research and development company Ledger Projects has announced a partnership with Bitfury Group, one of the world’s foremost providers of blockchain solutions, aimed at building and delivering solutions based on Distributed Ledger Technology (DLT) in Malta.
Under the terms of the partnership, Ledger Projects will combine its considerable resources and expertise in Malta with the BitFury’s extensive blockchain infrastructure in an exclusive deal that will see Ledger Projects offering the full range of BitFury applications to the Maltese market.
Potential for Symbiosis
Bitfury has a reputation as a world-leading full-service blockchain technology company which provides DLT hardware and software solutions to governments and the private sector in areas such as health, voter registration, national identification and finance, amongst others. Ledger Projects has considerable experience in research and development in the DLT space, specifically regarding implementation from theory to practice.
Its extensive experience of engaging with the market in Malta gives a unique position of advantage to BitFury, as it effectively presents it with a fully penetrated market, which saves time and costs of business development and marketing. BitFury thus gains access to a growing new market without having to battle for market share with the established player, and together they offer private and public sector clients the benefit of their combined infrastructure and expertise.
Speaking about the partnership, Ledger Projects CEO David Schranz said:
“Our partnership with Bitfury confirms that Malta is set to take center-stage in this sector. Since our launch, last September, the feedback here in Malta and around the world has been very encouraging. We have seen Ledger Projects’ platform evolve from a simple DLT application to a complex ecosystem with a robust use case for full-scale projects and services.”
On his part, BitFury CEO Valery Vavilov expressed his excitement at bringing on Ledger Projects as a partner in Malta. Speaking about his expectations for the collaboration, he said:
“Malta is an innovative country that has opened its doors to new technology like blockchain. Bitfury and Ledger Projects will develop a wide range of solutions that improve the systems and services that people use every day.”
Opportunities for Partnership
According to Ledger Projects, they are driven by a belief that distributed ledger technology will fundamentally disrupt the way transactions and agreements are executed. As a result of this, the scope of partnership matches well with BitFury’s product portfolio which includes blockchain applications for security, transaction processing, healthcare, land titling, and analytics.
Currently, both companies are coordinating efforts to build a program that provides access to BitFury’s extensive DLT expertise encompassing 16 countries and over 500 employees to Maltese education groups. Describing this process as a “big win for Malta,” Ledger Projects Director, Anthony Mamo said:
“This is a very important achievement for Ledger Projects, but this is also a vote of confidence in the island and proof that the government’s objective for Malta to become ‘the global trailblazer in the regulation of blockchain-based businesses’ is already being achieved, as is the goal to attract world-class fintech companies,” said Mr Mamo.