Maltese Prime Minister: Malta will Support Blockchain and AI Going Forward




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Malta AIBC summit

Malta will fully support the growth of Blockchain, AI and IoT. According to Hon. Joseph Muscat, the country’s prime minister, the Maltese government will continue to develop policies that will help in the smooth integration of blockchain and AI.

The 2019 Malta Blockchain Summit has welcomed more than 5,000 attendees, exhibitors and investors. Our hosts, the DecentraLive, are in the summit. Many illustrious industry speakers are also in attendance. With this summit, Malta is cementing its place as one of the most vibrant tech hubs globally.

Malta Continues Striving to Become a Leader in Blockchain

According to the prime minister, the regulatory watchdog in the country is continuously working to ensure that Malta has the perfect environment for investors and tech firms to build their products. Last year, the country approved three blockchain-related acts.

These are,

  • Virtual financial assets act
  • Malta digital innovation authority act
  • Innovative technology arrangements and services act

These bills have placed Malta in a position to provide high levels of assurances regarding the blockchain, DLTs, smart contracts and related software. They have also made Malta the first country in the world to have a functional regulatory framework, which provides some certainty for the nascent industry.

He added that in the past two weeks, the Malta Financial Services Authority (FSA) approved and listed the first virtual finance assets (VFA) agents. Muscat went on to unveil that the FSA had received approximately 30 applications for VFA agents. Out of the 30 applications, 11 have been registered.

Per Hon. Muscat,

We should not fear technology. Our country is providing high levels of assurances for blockchain, IoT and artificial intelligence. Two weeks ago, our country approved and listed the first to approve [these technological assurances]. The [recently passed] virtual financial asset acts provides legal certainty to this industry.

The Summit’s Setup

The Malta AI & Blockchain Summit has two stages and an exhibition floor. The attendees are engaged in different activities such as debates, fireside chats, workshops, and network. The participants in these events also stand a chance to win prizes worth €100,000.

The conference will also provide firms with an opportunity to engage with potential investors. The “project hub” will be open for two days and startups will have a chance to pitch their project ideas to investors.

On top of this, the Malta AI & Blockchain Summit will offer all attendees a rich networking experience. This includes a welcoming drinks reception, a crypto cruise and high-profile networking dinners.

Our DecentraLive team will continue providing updates shortly.


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