A new company based on blockchain and focussing on energy efficiency, EFFORCE, will be based in Malta with Apple co-founder Steve Wozniak investing in and co-founding it.
Speaking at the pre-launch of the Delta Summit this evening, Wozniak said that efficiency has always been important to him. He said the idea is to save money on energy but also to do good on the environment.
Blockchain will improve the way we use energy and lower energy consumption without changing our habits, Wozniak said.
He noted that EFFORCE has been extremely successful in the area, adding that blockchain is more secure than the standard servers.
Wozniac said that the company is an investment methodology, adding that he has always wanted to invest in Malta.
"EFFORCE is a unique business model and we can have a great impact on the entrepreneurship." He also said the willingness of the government to invest in blockchain has been very important for the company to choose Malta.
Wozniak remarked that he has seen Malta on the maps and had wanted to live here someday: "It has been on my mind for decades. Like no other place in the world."
He also praised the government, saying that parts of it are very favourable in moving forward in the modern world.
Also present at the event, Parliamentary Secretary Silvio Schembri observed how the government looked at different areas in which to diversify the economy: "We wanted to disrupt the way we do things, and embrace technology."
Schembri said that the government started with blockchain last year, perhaps having gone into unchartered territory when others did not want to dive in. Malta decided to lead at difficult times such as when bans on crypto currency were being considered outside of Europe.
He went on to say that the government has not stopped with blockchain. Last year was a success but now it is delving into other things.
"We want to provide a better life for our citizens," Schembri noted.
The government has embarked on a review exercise at the University of Malta to include modules of investment technologies in a variety of courses. It will produce people who know how to think and disrupt the status quo, Schembri said. "That is what we want as a government."
The government is also using blockchain in its day-to-day functions, he added, giving a host of examples when blockchain is being implemented.
The other co-founder of EFFORCE, Jacobo Visetti said he started exploring the area some years ago and applying energy efficiency projects to blockchain.
He said that it is a good business investment but also good for the environment. When deciding on Malta, it seemed to be the right fit, he said. "It was the most open minded country we could find in the world in terms of new technology."
Presenting the event was CEO of the Delta Summit Abdalla Kablan, who said that last year's event was the best technology event of 2018. He also said that it will be back again this October and it will be "the crown jewel of tech events globally."
This year the event will expand from blockchain to include IOT, game development, Esports thanks to the regulatory structure recently introduced on the subject.