The Prime Minister of Malta, Joseph Muscat, claims every rent contract in Malta will be registered with the help of blockchain, Malta Today reports.
Muscat notes that thanks to the reformed rent laws all rent contracts in Malta will be registered on the blockchain network, preventing the possibility of there being contracts in place for which there is no record.
"Every rent contract in Malta will be registered. The system we will be using to register the contracts is blockchain — distributed ledger technology," Muscat said.
According to the Prime Minister, the Maltese Government will now be showing people the added value of this technology by applying the technology to something which Malta's citizens will use in their daily lives.
"Such a contract cannot be tampered with and only those authorized will be able to access it. This shows how the digital transformation will affect their lives," Muscat highlighted.
Last year, Joseph Muscat, said that the state wants to diversify the economy and double down on the blockchain industry.
Earlier iHodl reported that about 100 Japanese companies have signed an agreement in order to use crypto's underlying tech to share information. The project, which includes Mitsubishi Electric and Yaskawa Electric among other participants, aims to increase efficiency as well as to reduce the risk of data leakage and operating costs.
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