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Sept. 30, 2018
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Joseph Muscat, the Prime Minister of Malta has claimed at the 73rd Session of the General Assembly of the United Nations (UN), that“blockchain makes cryptocurrencies the inevitable future of money.”

Malta has already established its take on crypto, their positive laws and outlook on crypto and distributed ledger technologies are the reason the country has been named the “blockchain island.”

Muscat stated: “Blockchain makes cryptocurrencies the inevitable future of money, more transparent since it helps filter good businesses from bad businesses. But these distributed ledger technologies can do much more.”

The Prime Minister added that the technology can also be used to benefit healthcare and matters of property.

WHY IS IT IMPORTANT?

  • Malta has a strong pro-blockchain policy and moving the debate to an international level is an important step in matters of blockchain awareness and mainstream implementation.
  • An international discussion at such a level could potentially be the means through which the application and use of blockchain technology could be expanded.

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