Countries similar France, FRG as well as the Great Britain cause got already established regulatory frameworks for Bitcoin companies, users as well as traders. Other European countries cause got offered their unique regulatory frameworks alongside clarity, to ensure at that spot exists no conflict betwixt local businesses as well as regulators due to ambiguous regulations as well as policies similar India.
Smaller countries such every bit Malta, an archipelago inwards the primal Mediterranean betwixt Sicily as well as the North African coast, cause got begun to consider Bitcoin every bit a legitimate currency as well as revolutionary technology.
Bitcoin as well as Blockchain included inwards national strategy
In particular, local publications including Republic of Malta Today reported that the country’s prime number government minister Joseph Muscat announced the blessing of a national strategy to promote Bitcoin as well as Blockchain technology.
Muscat said at a conference organized past times the fiscal affairs parliamentary committee:
“This is non simply virtually Bitcoin as well as I besides await forrad to seeing Blockchain engineering scientific discipline implemented inwards the Lands Registry as well as the national wellness registries. Republic of Malta tin last a global trail-blazer inwards this regard. I sympathize that regulators are wary of this engineering scientific discipline but the fact is that it’s coming. We must last on the frontline inwards embracing this crucial conception as well as nosotros cannot simply hold off for others to cause got activity as well as re-create them. We must last the ones that others copy.”
Although Muscat raised several positive operate cases of Bitcoin as well as Blockchain technology, Muscat specifically addressed the Bitcoin Blockchain’s might to handle, shop as well as procedure sensitive information such every bit lands registry inwards a secure, immutable as well as decentralized ecosystem.
Land records
Most recently, Ubitquity, a US-based Blockchain startup, partnered alongside i of the Earth records bureaus of Brazil to utilize the Bitcoin Blockchain engineering scientific discipline to integrate Earth records to the populace Blockchain of Bitcoin. Such method enables Earth bureaus as well as other authorities organizations to shop information inside an unalterable ledger.
“We are incredibly excited to denote our partnership alongside the Earth records bureau, a Cartório de Registro de Imóveis [Real Estate Registry Office] inwards Brazil. This partnership volition assist to demonstrate to authorities municipalities the might as well as benefits of using Blockchain-powered recordkeeping,” said Ubitquity founder as well as president Nathan Wosnack.
Malta to give-up the ghost the Silicon Valley of Europe?
The residual of the government, including Labor Minister of Parliament Silvio Schembri, revealed the government’s vision to transform Republic of Malta into the Silicon Valley of Europe. The province volition focus on the evolution of innovative technologies such every bit Bitcoin as well as Blockchain engineering scientific discipline to rest at the forefront of European technological innovation.
Schembri stated:
“We should aim to cause got the world’s best environs for the evolution as well as commercialization of fintech models as well as disruptive innovation. The authorities should ensure that Republic of Malta has the appropriate regulatory framework, the correct taxation scheme as well as the best infrastructure to back upwards this ambition. With our geographical set as well as weather condition conditions, potent fiscal system, skills base, entrepreneurial spirit as well as can-do approach, Republic of Malta tin genuinely serve every bit a test-bed for novel sectors as well as unusual firms to exam their novel engineering scientific discipline as well as products locally.”
