The Prime Minister of Malta: cryptocurrencies are inevitable

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The Prime Minister of Malta: cryptocurrencies are inevitable

Cryptocurrency is “inevitable future of money”, said Prime Minister of Malta Joseph Muscat, speaking at the United Nations. In his opinion, the blockchain will help to make the world more fair.

Technology in the service of society

Maltese Prime Minister Joseph Muscat gave a fiery speech praising the cryptocurrency and the blockchain, for the 73rd session of the UN General Assembly.

According to Muscat, innovative technology transformerait political landscape and will inevitably change the world.

“The blockchain of cryptocurrencies makes the inevitable future of money – more transparent future, as they help to separate the good companies from the bad. And the technology is a distributed registry could have done more”, he said.

In his opinion, the blockchain will be able to solve “problems, stretching over decades”. For this reason, Malta decided to become blockchain-the island and the world’s first jurisdiction with a comprehensive regulation in this sector.

Muscat noted that the governments of the world, if they don’t want to be left out of development, it is necessary to create digital States with the digital economies. Only these countries will meet the requirements of tomorrow.

Thanks to the blockchain, no one will lose his legitimate property because of compromised data,” the company “will become more responsible about their shareholders,” and the state “will move from collecting information about citizens, regulatory environment where citizens trust the management of their data.”

The transition to a digital society will not be smooth

Despite the overall positive attitude, the Prime Minister of Malta is confident that the transition to a digital economy and society is not without problems. Many politicians will resist the introduction of technology and transformation of social relations.

But over time, this approach “will become more short-sighted – as campaigning for to replace the horse-cart machines.”

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