The PM of Malta, Joseph Muscat, has stated that cryptocurrencies are ‘the inevitable future of money’ and that blockchain technology can create a more transparent society. He did this during the 73rd session of the General Assembly of the United Nations.
“Blockchain makes cryptocurrencies the inevitable future of money, more transparent since it helps filter good businesses from bad businesses. But these distributed ledger technologies can do much more.” – Muscat, at the U.N. on September 27th.
Muscat talked about a variety of implications: filtering bad from good businesses, companies becoming accountable, citizens handling their own (medical) data, or verifying that humanitarian help actually reaches its intended destination.
Malta has already adopted the nickname ‘Blockchain Island’. Major cryptocurrency exchanges like Binance, OKex and BitBay have relocated to Malta.