The Malta
Financial Services Authority (MFSA), under the Malta
Virtual Financials Assets Act (VFAA) has issued the first license
regulating the Initial Virtual Financial Assets Offerings (IVFAO).
Malta-based VAIOT successfully registered its whitepaper for its
VAI token (VAI) with the Authority, working through an authorised
VFA agent which acts a liaison between the licensee and the
Authority.
The VAIOT platform combines both artificial intelligence (AI)
and blockchain to digitize transactions and businesses through an
AI assistant that may provide Intelligent Contracts through
innovative use of AI and blockchain.
This is a crucial milestone in Malta's efforts in the
Digital sector, attracting projects in the Emerging Technologies
and Virtual Financial Assets (VFA) sector, further complemented by
certification frameworks in place for technologies such as
Distributed Ledger Technologies and Artificial Intelligence.
