Blockchain Strategy Approved By Malta Reps

Blockchain, FinTech, Innovation, News | April 24, 2017 By:

Malta’s Cabinet has approved the first draft of a national strategy to promote blockchain, according to Prime Minister Joseph Muscat.

Muscat was speaking at a conference on possible new growth areas for the Maltese economy, organized by the recently set up Economic and Financial Affairs Parliamentary Committee chaired by Parliamentary Secretary Silvio Schembri, in collaboration with EY.

Muscat said that Malta will become one of the first countries in the world to embrace blockchain and that the strategy will soon be put up for public consultation.

“This is not just about bitcoin, and I also look forward to seeing blockchain technology implemented in the lands registry and the national health registries,” said Muscat. “Malta can be a global trail-blazer in this regard.”

Muscat added that the island also needs to look at adopting cryptocurrency, in spite of the wariness of regulators. “We must be on the frontline when it comes to this innovation. We cannot wait for the regulators to reach their conclusions and then have to copy what other countries are already doing.”