The Parliamentary Secretary for Financial Services Silvio Schembri announced that the Malta Gaming Authority will be launching its sandbox for Distributed Ledger Technology (DLT). Sandbox refers to a space in which DLT technology can operate in a secure and restricted environment.
“The Authority is keen to embrace the technology and is not shying away from understanding the rise of DLT Technology with an aim to boost economic innovation, all this within a regulated environment,” said Schembri.
The announcement came at the third iGaming idol which has become a quintessential part of the iGaming industry, rewarding excellence in different sectors of it. This year saw the Parliamentary Secretary presenting the first Hall of Fame award to George DeBrincat, for proactivity since the beginning of the industry.
Parliamentary Secretary commends Centrecom
Meanwhile, on the same topic of DLT Technology, Mr Schembri commended Centrecom for their efforts adapting to it. This adaptation “will serve as a model for other companies still yet to discover the opportunities this industry holds and the benefits for day to day operations.”
He also commended Centrecom’s initiative with regard to sponsoring courses offered by their Training Department to acquire a Diploma in Cryptocurrencies. “In view of having world leading companies in blockchain and the crypto sphere that are choosing Malta as their home, it is crucial to train our human resources and familiarise them with this sector,” stated the Parliamentary Secretary.