The Malta Digital Innovation Authority (MDIA) has launched a consultation process, to start registering service providers and to certify blockchain applications.
The consultation process will be divided into four chapters.
The first chapter pertains to the System Auditor Guidelines which outline the requirements for Systems Auditors registered with the Authority to carry out audits on blockchain applications.
The second chapter is on Innovative Technology Arrangement Guidelines which sets out the requirements to certify DLT Platforms and Smart Contracts.
The third chapter consists of the Technical Administrator Guidelines and outlines the requirements for the entity responsible to maintain and oversee the Technology Arrangements to safeguard user protection.
Lastly, the fourth chapter relates to the Resident Agent Guidelines which obliges non-Maltese companies/individuals to engage a person residing in Malta for their operations.
The Chief Executive Officer for the Malta Digital Innovation Authority Stephen McCarty said that the guidelines will set out the proposed way of working and benchmarks for Systems Auditors, Technical Administrators, Resident Agents and for the certification of Innovate Technology Arrangements.
“Undoubtedly, the introduction of these guidelines will be another milestone in establishing Malta as the blockchain island”, said McCarty.
The MDIA has published the first set of documents for public consultation on Systems Auditor Guidelines. The consultation period is open to the public from the 18th of September till the 2nd October 2018 and interested parties are welcome to submit their feedback to the MDIA. The documents can be accessed at www.mdia.gov.mt.