Malta signs joint blockchain and AI declaration with France, Spain, Italy, Portugal, Greece and Cyprus, further underlining the importance of the tech.
Malta, the world’s foremost jurisdiction for blockchain technology, has led six other EU Member States in signing a joint blockchain and AI declaration.
Malta leading the way
The declaration was signed by Malta, France, Spain, Italy, Portugal, Greece and Cyprus, and further signifies that some nations are realising the enormous potential of blockchain and artificial intelligence.
https://twitter.com/SilvioSchembri/status/1069900723666718721
Signed for Malta by Silvio Schembri, Jr Minister for Financial Services, Digital Economy & Innovation in the Office of the Prime Minister, the event was yet another milestone for the nation now widely known as ‘Blockchain Island’ – see MALTA IS BLOCKCHAIN ISLAND.
With the world’s most progressive legislation, giving a clear legal framework for businesses using blockchain and AI tech, Malta has been attracting some of the world’s leading firms, including the world’s largest cryptocurrency exchange Binance, to its crowded shores.
Already Malta has become known for hosting the world’s leading blockchain industry events, like the Malta Blockchain Summit, and Delta Conference, attended by the rising stars of the blockchain, AI and cryptocurrency industries.
As AYO.NEWS has explained previously (see MICRONATIONS BECOME BLOCKCHAIN POWERHOUSES), smaller countries do have an advantage when it comes to being able to rapidly create and adopt the revolutionary new legislation required to facilitate the adoption of blockchain and AI in business.
This has been further illustrated recently by the announcement of a planned national cryptocurrency in the Marshall Islands, and close cooperation between Malta and Vanuatu, with possible plans for a ‘Commonwealth of Blockchain Islands’.
Blockchain progress across the EU
The other signatories of the declaration have also been making efforts to embrace blockchain and AI tech, with France passing Article 26 of the Business Growth and Transformation Bill (PACTE) in September, which enshrined one of the world’s most progressive Initial Coin Offerings (ICO) frameworks into law (read more about that here).
Blockchain and AI research is also being encouraged in Cyprus, as illustrated by The Institute For the Future (IFF) at the University of Nicosia recently partnering with blockchain project PumaPay (read more here).
As more and more nations take positive actions to facilitate blockchain research and commercial use, while others like India and China for example, are either openly hostile or extremely suspicious of the technology, there is an increasing danger of a two-tier global digital economy developing.
