Prime Minister Of Malta Acknowledges Blockchain World Supremacy
Maltese Prime Minister Joseph Muscat repeatedly expressed his confidence in the exploitability of decentralized technologies, bitcoin, and cryptocurrencies by and large at the Session of the General Assembly of UN (September 25 — October 1), Forbes reports.
Muscat postulated that decentralized technologies help to develop and improve the global financial system, henceforth Malta positions itself as a "blockchain island."
Listen to the Prime Minister of #Malta aka "The Blockchain Island", an EU and Eurozone member country say to UN General Assembly: "Blockchain makes cryptocurrencies the inevitable future of money" pic.twitter.com/hFeFBqbx6g— Dennis Parker⚡️ (@Xentagz) 30 сентября 2018 г.
The Prime Minister added that countries are solving issues related to the regulation and management of digital currencies and crypto companies that operate outside the legal system throughout the world. According to the official, Malta is the first country to introduce the crypto regulation at the legislative level. By means of blockchain, “cryptocurrencies will become the inevitable future of money”, for possessing a more transparent transaction processing system, they allow conducting business in the most perspicuous way.
Representatives of the global crypto industry highly praise blockchain development by the authorities of Malta. Changpeng Zhao, Binance CEO, intends to invest in the digital industry of Malta for its further evolvement.
Blockchain technologies, according to the politician, can solve many problems in the healthcare sector and real estate market. He also added that blockchain can be used not only for the development and issuance of digital assets, but also as a way to securely store and transfer data or as a tracking system for humanitarian delivery.
As previously reported, Binance and the Maltese Stock Exchange (MSE) concluded an agreement to jointly launch the platform with security tokens.