Malta at the UN General Assembly: the blockchain will inevitably change the future of the financial system

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At the UN General Assembly, Prime Minister of Malta Joseph Muscat said that Blockchain technology will inevitably allow the cryptocurrency to become the future replacement for traditional money.

He said:

“I truly believe that technology revolutionairy and improving the system. That is why in Malta we have created a friendly jurisdiction for Blockchain projects. Thus, the country became the first in the world to regulate this new technology that previously existed in a legal vacuum. Blockchain cryptocurrency is inevitable makes the future of money.”

Prime Minister Muscat said that, while recognizing the potential of the technology, Malta openly accepted the cryptocurrency and business in this emerging industry, leading the global sector with favorable regulation.

The success of the Blockchain-the island

With the beginning of 2018, Malta focused on creating an ecosystem that dramatically improves the business of the cryptocurrency and Blockchain firms.

Binance, the world’s largest cryptocurrency exchange with about 10 million users and 200 million profit in one quarter, openly praised the efforts of the Malta guide cryptocurrency regulation, moving its headquarters to the region.

Chanpen, Zhao, CEO of Binance, said that the company aims at investing in Malta and its local cryptocurrency markets to help the growth of the blockchain-industry ostrova.

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