"Blockchain Island" is expanding rapidly following the influx of some of the world's largest cryptographic exchanges. Malta is thrilled to embrace cryptography in all its forms and is currently in contact with the Waves team to get the platform accredited on the island
This week the CEO of the Russian blockchain platform Waves met the president of Malta Joseph Muscat and representatives of the island's government of the nation. The announcement added that a number of potential scenarios would be on the table for the integration of the platform in the state and public administration sectors.
Cooperation between the two parties in the areas of health, land registry, voting and other areas has been discussed. Furthermore, the proposals to use Waves as a platform for tokenised financial instruments were remedied at the meeting. The first step would be the accreditation of the platform for its distribution throughout the island. The founder and CEO of Waves, Sasha Ivanov, said:
"We are interested in this accreditation and we are ready to start working with the legal experts of Malta to bring our ready-made blockchain solutions here: Waves for the financial sector and Vostok for the government and corporate sectors, "
the Maltese president, Joseph Muscat, commented that the government has legislated three acts that will provide legal certainty to the crypted space. These include distributed ledger technology and digital financial products and services such as cryptocurrencies and ICO. He added:
"In recent months, the Maltese government has actively resolved how to position Malta as an important hub in terms of the digital economy, which will play a central role in the economic sustainability of the coming years".
Just a few days ago, the Waves team also announced that it had started with the phases following the launch of its smart contracts on the platform. Waves Smart Accounts have been described as "complete non-Turing intelligent contracts: they allow blockchain code execution, but with deliberate limitations on functionality to avoid unwanted usage scenarios and increase system reliability. "
Over the past seven days Waves has climbed 23% from $ 1.95 to $ 2.40 on the back of developments. At the same time, cryptographic markets in general fell 5%, losing $ 10 billion. Today only the token has increased by 15% according to Coinmarketcap and Waves is riding the wave today while the scrambles recover from their annual lows.