A Maltese firm has become the first corporate and legal advisory firm in the world to take the initiative to tokenise its services.

Through the ESTS initiative, E&S Group will utilise the ESTS token and plans to continue to break new ground and develop opportunities for its clients in the blockchain field. Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri welcomed the initiative by E&S.

“A few weeks ago, Malta became the first country in Europe and possibly in the world to come up with a regulatory framework on DLT technology, and since then we haven’t looked back.

“The framework was well received, and the feedback from the public consultation was encouraging. We now hope to go through parliamentary process with a Bill that will set up the Malta Digital Innovation Authority and offer legal certainty to this space.”

E&S Group is a leading firm in blockchain legal and financial advisory.

Director Christian Ellul said: “We have been involved in the blockchain and crypto world for over a year now. We are happy to learn that the authorities are supporting this by setting up the Malta Digital Innovation Authority. The intention is to present Malta as a hub to promote this technology.”

Blockchain is often viewed as the most important technological invention since the internet, and though still in its infancy, it promises to revolutionise the business world and how value is exchanged.