Malta PM at UN General Assembly: Crypto is the Inevitable Future of Money
The Prime Minister of Malta, Joseph Muscat, in his speech at the United Nations General Assembly, spoke about the possibilities of blockchain and cryptocurrencies, calling them «inevitable» element of the digital future.
Joseph Muscat raised the issue of blockchain island formation, saying that Malta is the first jurisdiction to regulate technology that previously operated in a legal vacuum. He further spoke positively about virtual currency as a more transparent money of the future, which will greatly simplify the determination of the good faith of companies..
In conclusion, the Prime Minister of Malta added that the distributed ledger technology will have a positive impact on the health sector, control of government and corporate spending, and will also help monitor the movement of humanitarian aid to its final destination..
Ever since the island nation began to pass legislation to regulate the crypto industry and the development of the blockchain, crypto companies have begun to move their businesses into its jurisdiction. For example, Binance has opened a local unit and partnered with the Malta Stock Exchange..
It looks like the UN has already assessed the potential of the blockchain, as its two divisions began to partner with the government of Sierra Leone to create a national identity system. based on technology.
text: Ivan Malichenko, photo: TheSun.co, TheAsianPost.co