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Sunday, 18 February 2018

Crypto-'Peace of Mind' In Malta

The Authorities in Malta have come up with an idea to give Malta crypto-user 'peace of mind'. A new policy document seeks to set up an agency whose sole responsibility will be to certify 'blockchain' platforms and verify cryptocurrency transactions.



Summary:


  • The new Malta Digital Innovation Authority will be responsible for certifying blockchain platforms used by companies in the country.
  • It will also verify crypto-transactions by verifying if the logged information is genuine.
  • The government hopes to bring peace of mind to businesses by using distributed ledgers for payments that involve crossing borders
  • The government hopes to provide 'legal blockchain systems' worried that the available blockchain systems, though being a cheap and efficient way to transfer money, are not certified in any way.
  • Malta hopes to be a hub of innovation by utilizing cutting edge technologies in useful business cases and adhering to best practices.
  • The Malta Digital Innovation would also protect Malta's reputation by taking into account it's international commitments as regards money-laundering

Do you think Malta might be able to attract crypto-currency investors with it's new policies? Please share your views, we value them.

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