5 reasons why Malta is set to claim its title as a Blockchain Island

Located in the middle of the Mediterranean Sea, Malta is the smallest country forming part of the European Union and holds a population of just above 400,000. With a thriving economy and an ever-increasing GDP, Malta has recently made the headlines for its contribution and drive towards blockchain and cryptocurrencies.

What makes Malta the perfect place for #Blockchain and #Bitcoin enthusiasts and innovators?

1. The Maltese Government has an actual approved Blockchain strategy.

In April 2017, the Maltese Government announced its very own Blockchain strategy. This move is set to promote the use of blockchain technology in the Land Registry and national health registries, amongst others. Malta is currently pushing the European Union to replicate this strategy on an EU-level. By setting this example, Malta is positioning itself as a leader in this sector, inviting collaborators to work together to further this technology's impact in everyday lives.

2 . Malta just became the first country to explore blockchain educational certificates.

Recently, a pilot project to explore the possibility of issuing education certificates on blockchain was announced. The project will be handled by Learning Machine, a US-based innovation firm. Malta is the first country to make this bold move and explore this possibility. This system would create a transparent, efficient and secure process which would empower graduated students and provide them with a future-proof tool.

3 . The Maltese Gaming Authority just announced it may allow the use of cryptocurrencies by licensees.

The Maltese Gaming Authority (MGA) has this summer released a White Paper in a bid to overhaul the current regulatory gaming structure. In relation to blockchain, the MGA has recognized the emergence of cryptocurrencies and pledged its commitment to allow the use of cryptocurrencies by its licensees "in the immediate future". It has also commissioned a study in this regard and shall engage in a public consultation during the end of this year.

4 . A mock roll-out of a new cryptocurrency is expected very soon.

It is currently speculated that the MGA will introduce a new virtual currency in a controlled environment to test working and legislation. This procedure, described as a 'sandbox test', is intended to limit the initial effects on the Maltese local economy and evaluate future opportunities. The Office of the Prime Minister has been quoted saying that the intention is to make Malta "the first country to regulate cryptocurrencies and blockchain".

5 . Malta will be taking the European centre-stage in Fintech

Blockchain & Bitcoin Conference is a series of international events that take place in Moscow, St. Petersburg, Kyiv, Stockholm, Tallinn, Prague, and now also in Malta. Organizer of the conferences is the international company Smile-Expo, which became a pioneer of the exhibition business in the field of advanced technologies. The conference will cover such topical issues as ICO holding, trends of the blockchain industry, development of cryptocurrencies and challenges of legislative regulation of the fintech sector.