The fund is likely to open next month where the Malta Information Technology Agency (MITA) will be the funding authority. Basically, this will officially be for students pursuing DLT technology from every sector such as IT, finance, law, Fintech, and engineering as a whole.
However, the announcement was made by Silvio Schembri, the parliamentary secretary at the digital economy. As per the post, their office was supportive for coordination discussions within the blockchain research group and MITA at the University.
This scholarship fund has been launched by signing the Memorandum of Understanding with the MITA and University of Malta, at the Faculty of ICT. However, this amount will be considered an investment for around three years.
This scholarship will be available for students initiating their studies within the scholastic year 2018-2019. However, this scholarship will also be applicable for any Master’s & Doctorate level at UoM course.
Full-time and part-time studying students can freely apply for this scholarship holding directly at least a minimum of 30 ECTS regarding DLTs. Also, this criterion will ensure via the Centre for DLTs (CDLT), the independent faculty within the unit that student forms part of.
Students will get complete sponsorship for the course and the award amount is yet to be confirmed for every student.
The Parliamentary Secretary, Silvio Schembri says,
The next step forward was to invest in human resources in order for companies to operate from Malta.
Mr. Schembri also notes that few of the blockchain firms that decide to place their headquarters within Malta are already starting to rent out offices, and are set up for the recruitment process.
In view of this, we are aware that these companies need technical resources both to build and to operate this technology, as well as experts in financial services, law, and managerial roles.
The Executive Chairman at MITA, Tony Sultana says that this initiative assists other initiatives which MITA is taking care of. Along with distinct educational firms aiming at growing the number of students who want to pursue a career in the ICT sector.
Mr. Sultana says,
These initiatives are part and parcel of MITA’s strategy. They are planning to invest in new technologies such as blockchain and DLT. The firm also wants to provide necessary tools for students encouragement studies in these subjects.
Moreover, he also adds that apart from educational initiatives, MITA conducts multiple training sessions for MITA employees. They also assist those who belong to the public sector focusing to familiarize them with the operating technology.
MITA will remain the key IT partner throughout the Delta Summit 2018. However, the Official Blockchain and Digital Innovation Event in Malta will be held in October.
Prof. Alfred Vella says that the master’s programs and university’s degree in various sectors are finance, law, and ICT amongst others. It will take more 18 months to incorporate covering units of the blockchain, cryptocurrency, AI, DLT, IOT, Regtech, and Fintech.
Behind this scholarship, Malta is planning the blockchain strategy. Malta’s intention is to transform the island into a global research hub. They want the land for the technology entirely with an attractive licensing regime for the firm operating on DLT.