Malta stands putting up with a more holistic direction to its digital economy, incorporating blockchain with additional “niche sectors.”
Maltese government prevails, proceeding to cut off from its well-known blockchain agenda, because it aims to accept a more holistic direction toward digital economy development.
According to fresh interview with Bitcoin world, Kearon Bruno, chairman of Digital Economy Think Tank, an advisory body delegated with diversifying and centralizing Malta’s economic portfolio, added:
“We’re moving away from [being a] blockchain island, and more towards a digital island because we believe more in this holistic vision that includes all aspects and technological components”.
As for its digital economy strategy, Malta forthwith promotes an “overarching vision”, according to Bruno. The think tank, formed in June 2020, encompasses delegates from gaming, financial services, and information sectors.
September 2018 remarked, at the United Nations General Assembly, Malta’s former Prime Minister Joseph Muscat exemplified his country as a “blockchain island”.
Bitcoin world examined, the official verbiage is coming to a limited stage blockchain enlightened, as Muscat amassed a step down as of regional political hardship at the verge of 2019.
Additional member of think tank Beverly Tonna, remarked on how the Malta Financial Services Authority established a regulatory sandbox for fintech companies as of a prior week. She added:
“The aim is to make Malta more attractive for startups. When you’re operating within a sandbox environment there’s more room for tailor-made approaches […] So yes, we’re moving away from just crypto and blockchain, and are looking for fintech operators now”.
Nevertheless, Tonna pointed out that Malta is “not shifting away from what we had done before” and is “still very much active within the Virtual Financial Assets space”.