Malta is a Southern European island country in the Mediterranean Sea and the tenth smallest country in the world. Malta is known for its beautiful scenery and nature. Many films and TV series including Game of Thrones were filmed in Malta.

One of the scenes from Games of Thrones filmed in Malta

However, Malta is now more than that. Currently, Malta is also known as ‘Blockchain Island’ since it is focusing on the blockchain industry which makes it different from many other countries.

While major economies were reluctant in regulating blockchain and cryptocurrencies, Malta adopted a remarkably progressive stance towards cryptocurrencies and blockchain technologies by introducing legislation to bring virtual assets and DLTs into the regulatory fold. In turn, it became the first country in the world with clearly established regulatory frameworks for DLTs, ICOs, and virtual currencies.

Malta’s innovative approach has made it appealing for fintech companies as well. For example, Binance, the world’s largest cryptocurrency exchange, recently moved its headquarters from Hong Kong to Malta.

Malta has also attracted plenty of international talent working in sectors such as iGaming and financial services, which can now be utilized for the growing blockchain industry. The new framework initially captures DLT platforms and smart contracts, but the Maltese government is already working on extending its reach to other types of innovative technologies, such as Artificial Intelligence (AI) and Internet of Things (IoT) technologies, paving the way for the next fintech revolution.

Through these innovations, Malta’s vision is to create a thriving blockchain economy and its ambition is that the sector will account for 10% of GDP by 2027. FLETA also believes in Malta’s potential and has attended Malta’s blockchain events as well. In this year, FLETA has been to Malta again to show its presence in the blockchain industry. In the next article, we will show what happened in DELTA Summit 2019!

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Original Source:

FinanceMalta, https://iconfinancemalta.blob.core.windows.net/libx-128-public/Tags/General/Malta%20Destination%20Blockchain%20Island.pdf

https://money.cnn.com/2018/07/18/technology/startups/malta-blockchain/index.html