Joseph Muscat: 'We must be on the frontline in embracing blockchain and Bitcoin...we must be the ones that others copy'
Cabinet has approved the first draft of a national strategy to promote blockchain, the technology underlying the Bitcoin cryptocurrency, Prime Minister Joseph Muscat has revealed.
Addressing a conference organised by the financial affairs parliamentary committee, Muscat said that Malta will become one of the first countries in the world to embrace blockchain and that the strategy will soon be put up for public consultation.
“This is not just about Bitcoin, and I also look forward to seeing blockchain technology implemented in the Lands Registry and the national health registries,” he said. “Malta can be a global trail-blazer in this regard.”
Muscat reiterated his call on the EU to harness the potential of cryptocurrencies and seek to become the “Bitcoin continent of Europe”.
“I understand that regulators are wary of this technology but the fact is that it’s coming,” he said bluntly. “We must be on the frontline in embracing this crucial innovation, and we cannot just wait for others to take action and copy them. We must be the ones that others copy.”
Labour MP Silvio Schembri, who chairs the financial affairs committee, said that his dream is for Malta to become “the Silicon Valley of Europe”.
“We should aim to have the world’s best environment for the development and commercialisation of Fintech models and disruptive innovation,” he said. “The government should ensure that Malta has the appropriate regulatory framework, the right tax system and the best infrastructure to support this ambition.
Labour MP Silvio Schembri said that Malta can become 'the Silicon Valley of Europe'
“With our geographical position and weather conditions, strong financial system, skills base, entrepreneurial spirit and can-do approach, Malta can truly serve as a test-bed for new sectors and foreign firms to test their new technology and products locally.”
He added that if Malta managed to attract a mere 1% of the UK’s Fintech industry to Malta post-Brexit, it would mean an injection of €200 million into the local economy....continue reading:
http://www.maltatoday.com.mt/business/technology/76459/malta_set_for_revolutionary_national_blockcha...
Cabinet has approved the first draft of a national strategy to promote blockchain, the technology underlying the Bitcoin cryptocurrency, Prime Minister Joseph Muscat has revealed.
Addressing a conference organised by the financial affairs parliamentary committee, Muscat said that Malta will become one of the first countries in the world to embrace blockchain and that the strategy will soon be put up for public consultation.
“This is not just about Bitcoin, and I also look forward to seeing blockchain technology implemented in the Lands Registry and the national health registries,” he said. “Malta can be a global trail-blazer in this regard.”
Muscat reiterated his call on the EU to harness the potential of cryptocurrencies and seek to become the “Bitcoin continent of Europe”.
“I understand that regulators are wary of this technology but the fact is that it’s coming,” he said bluntly. “We must be on the frontline in embracing this crucial innovation, and we cannot just wait for others to take action and copy them. We must be the ones that others copy.”
Labour MP Silvio Schembri, who chairs the financial affairs committee, said that his dream is for Malta to become “the Silicon Valley of Europe”.
“We should aim to have the world’s best environment for the development and commercialisation of Fintech models and disruptive innovation,” he said. “The government should ensure that Malta has the appropriate regulatory framework, the right tax system and the best infrastructure to support this ambition.
Labour MP Silvio Schembri said that Malta can become 'the Silicon Valley of Europe'
“With our geographical position and weather conditions, strong financial system, skills base, entrepreneurial spirit and can-do approach, Malta can truly serve as a test-bed for new sectors and foreign firms to test their new technology and products locally.”
He added that if Malta managed to attract a mere 1% of the UK’s Fintech industry to Malta post-Brexit, it would mean an injection of €200 million into the local economy....continue reading:
http://www.maltatoday.com.mt/business/technology/76459/malta_set_for_revolutionary_national_blockcha...