Malta is one in very few countries that are fighting for the mass adoption of cryptocurrencies. It appears the Island will continue making headlines as the first CryptoTower nears completion. According to the Times of Malta, the project broke ground earlier this year.

As per the publication, the 10-storey building will utilise the newest trend in office tenancy called co-working. Basically, coworking involves people working together or as the paper notes, it is people sharing the same working environment.

First CryptoTower to support coworking

The building occupies a 3000-square meter land area and is adjacent to the Pendergardens development in St Julian’s. However, the new measurements are nothing in comparison to the previous measurements touted by the developers in previous marketing stunts.

As another report by the Times of Malta reveals, previous aggressive advertisement of the property gave different figures. As per the report, the building would go up 42 stories and would much more land area. As it turns out, the adverts overhyped a property that would eventually go up 10 stories.

Dubbed the “blockchain epicenter” the building will host a plethora of offerings in the line of blockchain. Most of the offerings are what will appeal to startups. Speaking to the Times of Malta, Kevin Buttigieg, one of the building’s owners said they will introduce new tenancy dynamic.

Blockchain Island

As per Buttigieg, tenants will pay a onetime membership fee. In return, the tenants will get “a desk, a socket for your computer, a secretary to handle calls, photocopying services.” In essence, they will get all the effects relevant for a fully functioning office.

Further, as the first CryptoTower goes up, the developers acknowledge that Malta is experiencing an influx of startups. The tiny Island is the most forward looking country as far as blockchain goes. In particular, the country has in place legislations that facilitate crypto- and blockchain-related activities.

Early October, the Prime Minister of Malta indicated that blockchain is inevitable. Further, he said that he would front Malta as the “Blockchain Island” in the push for mass adoption.

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