Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri endorsed the BiteMyCoin.com initiative. BiteMyCoin was launched last July.

BiteMyCoin.com is an initiative by international data driven creative agency ANCHOVY Inc, a company supporting the current move towards Blockchain technology and cryptocurrencies. "The launch of the BiteMyCoin.com initiative came at a great time when a few days ago Malta became the first EU jurisdiction and possibly in the world, to issue a regulatory framework on cryptocurrencies," said Schembri adding that this is the first step toward having a Virtual Currencies Act.

Silvio Schembri described BiteMyCoin.com as an educational initiative which gives a taste of what the financial services will look like in few years' time. "Thus, discussions are ongoing on the possibility of introducing courses about blockchain technology in our educational institutions," said Schembri.

During a presentation, one of ANCHOVY. Inc co-founders Benji Borg, explained how BiteMyCoin.com works. "It concentrates on building the bridge between the new technology and the new audience as well as translating it into plain English. Its primary goal is to educate the public about the new technologies and how to utilise them responsibly."

"The website complements Government's plans and work of putting Malta at the forefront of Blockchain technology on an international level, especially after the recent announcement about creating a legal framework that will regulate blockchain based industries, AI and IOT,' said Benji Borg.