Malta Prime Minister Predicts Inevitable Cryptocurrency Outreach

October 2, 2018

Malta Prime Minister Joseph Muscat has claimed, he regards the blockchain technology as a tool to provide widespread appreciation for digital currencies around the world and make them global money of the future:

“I passionately believe technology revolutionizes and improves systems," said Muscat. "This is why in Malta, we have launched ourselves as the blockchain island. By being the first jurisdiction worldwide to regulate this new technology that previously existed in a legal vacuum. Blockchain makes cryptocurrencies inevitable future of money. More transparent, it helps filter good business from bad business.”

Note that earlier Muscat voiced his views that blockchain and Bitcoin will reduce the number of financial intermediary companies several-fold thus giving common users more control over their funds.

“Blockchain can provide solutions to health care systems where patients have real ownership of their medical records. Emissions trading systems can be taken to the next level. We can help verify that humanitarian assistance is reaching its intended destination. We can make sure that nobody is deprived of their legitimate property because of compromised data”, Muscat continued.

Crypto companies have highly appreciated the governmental approach towards blockchain promotion. In March this year the head of Binance Changpeng Zhao stated, the platform plans to invest in Malta-based blockchain startups while in July the company declared to provide financial assistance for the country’s first decentralized Founders Bank.

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