Malta “Blockchain Island” Strives to Lead in the Cryptocurrency Race Worldwide

Malta Strives to Lead in the Cryptocurrency Race

During this week’s Delta Summit 2018, Silvio Schembri, Malta’s Parliamentary Secretary announced that the country was looking to be the leading nation in the cryptocurrency race, and not the last one.

Speaking on what he expected from the Delta Summit 2018, Schembri noted that:

“Malta will firmly establish itself as the innovator and as the ideal space for companies that operate within this space to operate from here. The Delta Summit will celebrate DLT technology, the legal platform Malta’s government is providing.”

3 Major Bills

Malta has three highly significant bills in its Maltese Parliament, which are aimed at pushing the country towards being the best destination in the world when it comes to cryptocurrencies and blockchain technology. The bills – Innovation Technological Arrangement Services Bill, the Virtual Finance Assets Bill, and the Malta Digital Innovation Bill – Seek to introduce laws to regulated the sector and fully support it.

University of Malta Playing a Pivotal Role

According to Silvio Schembri, the University of Malta has been playing a major role in the government’s plans to foster the country as the global leader in the industry, saying that by becoming the best designation for cryptocurrencies and blockchain scholarships, the country can fulfill its dreams as a center of the blockchain revolution. He said that:

“Malta will be the epicenter of the Blockchain industry. I invite stakeholders, operators within this space, investors, entrepreneurs, and innovators to be part of yet another exciting chapter for Malta and be part of the Blockchain Island.”

The Delta Summit 2018 also comes a week after Malta’s Prime minister, Joseph Muscat, addressed the United Nation’s General Assembly, stating that cryptocurrencies are the ‘inevitable future of money”. There have been many blockchain and cryptocurrency related companies, including Binance that have set camp in the country because of its friendly nature of digital assets and their underlying technology.