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Malta To United Nations: Cryptocurrency Is 'Inevitable Future Of Money'

On the 27th issue of the United Kingdom that cryptocurrency is "the inevitable future of money" on September 27 – reiterating his faith in Blockchain technology.


The 'Blockchain Island' Reveals Its Cards

Speaking at the organization's 73rd General Debate, Muscat, who has presided over Malta's official pivot to become so-called 'Blockchain Island,' championed digital innovation and its regulation.

"Blockchain makes cryptocurrencies, the inevitable future of money, more transparent," he said. "But these distributed ledger technologies can do so much more."

As part of Blockchain Island, the Maltese government has signed partnerships with emerging businesses including a raft of cryptocurrency exchanges to provide financial services and services registered in the country.

As Bitcoinist has reported, platforms Binance and Huobi have spearheaded the trend, which was attempted to form the world's first decentralized tokenized bank using Malta as its base.

Muscat had personally welcomed Binance to his jurisdiction when the exchange was relocated there earlier this year.

Forget 'Blockchain-Not-Bitcoin'

At the UN, he noted the need for the decision to become a legal vacuum. "

"He regressive and reactionary politics." He forecasts: from medical records to aid to government data handling, he continued, blockchain spawns

States will be able to move from one country to another.

The cryptocurrency altogether.

The approach echoes that advocated by cryptocurrency proponents, specifically Andreas Antonopoulos, who has publicly stated that to 'Blockchain-not-Bitcoin' mentality tells the world that someone "does not understand" either technology.

What do you think about Joseph Muscat's speech? Let us know in the comments below!


Images courtesy of Shutterstock, YouTube.

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