You have to hand it to Malta’s Prime Minister Joseph Muscat. He makes a compelling case for taking advantage of everything this small in size, huge in ambition island nation has to offer in regards to businesses, families of entrepreneurs and the future of blockchain and cryptocurrency.
Firstly, since 2014, Malta has reported an “annual average economic growth of about 6%, which is three times higher than all other European Union nations. Other EU states cannot keep up with us. We are working hard, more efficiently than all our peers to embrace this force of nature called blockchain and cryptocurrency”, Muscat told attendees at Malta Blockchain Summit, taking place today and tomorrow.
He explained how his government was prepared to “face the unimaginable that blockchain technology has to offer by laying out fertile soil and planting the right seeds to harness this force of nature and take advantage of all it has to offer.”
He suggested that the majority of all other countries around the globe are erring on the side of caution when it comes to blockchain and crypto. “I find it fascinating that we are having this conversation when people who want to build walls surround politics, yet we are discussing a technology that wants to tear down walls.”
What Malta has to offer
“Malta has virtually full employment. Our economic forecasts are better than any other EU country. We are preparing for the future with free education for all; we have provided all our primary students with free tablets. We pay upper education students to continue with their academic preparation; health services are free, and we help people in vulnerable conditions and those with disabilities,” said Muscat.
He emphasised that blockchain and cryptocurrency offers “a sea of opportunities, and Malta is the land of opportunity. Some say blockchain and cryptocurrency is the future, I say it’s the present. We’re pushing the limits to see where blockchain can take us.”
“We are telling everyone that we are open for business, within the parameters we designed with all stakeholders,” he added. “We are making sure the right rules and regulations are in place and that they are fair, and we’re inviting all those interested in establishing themselves in our country to come to play in this levelled playing field.”
A fertile land of opportunity
He assured his audience and entrepreneurs from around the world that “we like doing things the right way at the right pace. Today, Malta is a fertile land of opportunity and discussion. Let’s take this leap to the unimaginable together. Our vision is to see this sector grow in volume and find new ways in how tech can improve people’s lives.”