It looks like Malta’s reputation as “Blockchain Island” is continuing to gain impressive traction, with a new development that could potentially see the state begin to adopt a cryptocurrency- and blockchain-based mechanism for its services and operations.
The team from Waves — a decentralised cryptocurrency platform providing a complete ecosystem for blockchain developers — met with Joseph Muscat, Malta’s prime minister, and representatives of the Maltese government, to discuss potential scenarios for the use of the Waves platform in the state’s government and corporate sectors.
Sasha Ivanov, founder and CEO of the Waves platform and Vostok, attended a meeting with government representatives and other interested parties on the island to discuss technological cooperation in the fields of healthcare, land registry, voting, and others, as well as proposals to use Waves as a platform for tokenised financial instruments.
The meeting was attended by Prime Minister Muscat, Silvio Schembri, junior minister for financial services, digital economy and innovation, and Waves’ Ivanov. Separate meetings were held with Stephen McCarthy, CEO of Malta’s Digital Innovation Authority, as well as representatives of Malta’s Financial Services Authority.
These first steps were encouraging and discussions will continue, per reports from inside the meeting. The most positive outcome of the process would ultimately be accreditation for the company to work within the territory of the state.
Speaking exclusively to CCN, Dr. Jospeh F. Borg from WH Partners said that this was a landmark for Malta in the crypto space.