Malta Unveils Blockchain Advisory Board as National Strategy Advances

The European nation of Malta is moving to advance its ongoing blockchain strategy with the creation of a new advisory board.

AccessTimeIconSep 18, 2017 at 11:00 a.m. UTC
Updated Aug 18, 2021 at 6:57 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

The government of Malta is launching a new task force to advise on the implementation of the country's national blockchain strategy, announced in April.

According to the Malta Independent, the group will review proposals and make recommendations for a roadmap that will promote the technology's use in public sector processes and services.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Vincent Muscat, Permanent Secretary for the Parliamentary Secretariat, will serve as chair. Other members include Steve Tendon, senior fintech/blockchain advisor at Quantum Financial Analytics; Dr. Ian Gauci, a legal expert focused on communications and technology; Joseph Cuschieri, executive chairman of the Malta Gaming Authority; and Loui Mercieca, a software architect with expertise in blockchains.

    Announced Friday, the task force is calling for proposals from seven financial services advisory companies, with the ultimate goal being to help increase the digital economy in the small nation.

    According to a press release:

    "The Government is ambitiously looking into the setting up of a new regulatory function with the primary objective of harnessing the technology with a legal operational framework, serving as a bold initiative leading to the formation of an ideal ecosystem for those willing to invest in blockchain technology."

    As such, the announcement is the latest that builds on efforts in the central Mediterranean nation, which has been moving to advance domestic blockchain technology use for some time.

    Last December, for example, the country's stock exchange began looking into using a blockchain to underlie its trading platform, while Prime Minister Joseph Muscat has gone so far as to indicate support for blockchains and cryptocurrencies.

    He notably told European Union leaders that cryptocurrencies could not be stopped, in the process becoming one of the rare world leaders to acknowledge the emerging technology.

    Vincent Muscat image via Dinah Lee Seguna

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.