Malta Signs European Blockchain Partner Declaration

EU supporting Blockchain

Dr. Priscilla Mifsud Parker | 03 May 2018

Malta signs EU Blockchain Partner Declaration

On the 10th of April 2018 Malta togerther with another twenty-one countries signed the European Blockchain Partnership Declaration. Such Partnership will be a vehicle for co-operation amongst EU member states:

Mariya Gabriel, Commissioner for Digital Economy & Society declared:

"In the future, all public services will use blockchain technology. Blockchain is a great opportunity for Europe and Member States to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services and companies. The Partnership launched today enables Member States to work together with the European Commission to turn the enormous potential of blockchain technology into better services for citizens”

The list of countries which have signed such declaration apart from Malta are, Austria, Belgium, Bulgaria, the Czech Republic, Estonia, Finland, France, Germany, Ireland, Latvia, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and the U.K. Other EU and EEA countries have been extended an invitation to join such partnership.

The Next Step

Malta is making leaps in DLT and virtual currency regulations and making a name for itself as it had done a decade and a half ago with the iGaming industry. As noted by Prime Minister Muscat, the next challenge shall be to attract enough employees and to provide opportunities and training to those who wish to work in this burgeoning sector. 

Our Fintech Practice 

At Chetcuti Cauchi, we welcome the innovations which the financial services sector is currently undergoing, and seek to provide bespoke solutions to our clients by fusing together traditional legal notions with new technologies.

Should you wish to set up a meeting to discuss how you could be one of the pioneers to explore Malta's potential as a fintech hub, kindly contact us on fsu@cclex.com and we would be happy to call you back.

 

 



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