Maltese authorities have revamped three amendments into law to create a legal framework to use blockchain for business
The new blockchain law means that Malta has now become a blockchain island with legitimate legal frameworks in place that are adaptable and appealing to small and large investors.
The new blockchain law makes Malta the first country to offer jurisdiction to blockchain technology which provides investors with peace of mind knowing that their businesses are in safe and capable hands.
Also known for its gaming licenses, Malta has worked this into the new blockchain law to offer integration between this aspect of business and the technology.
Not only does Malta provide lawful blockchain frameworks, it also offers exciting environments that are perfect for business to thrive in, while attracting leaders in blockchain technology and cryptocurrency.
Businesses including OKex, Binance and Bitbay have already opened offices on the island.
In addition, Malta’s Ministry of Transport has made a deal with Omnitude, to use the distributed ledger technology to improve public transport for the country.
And if that’s not all, last year saw discussions between the Maltese government as to whether they should register blockchain related academic degrees at their universities.
