Prime Minister of Malta: Crypto is the Inevitable Future, 'Blockchain Island' is a Calculated Risk

At the United Nations General Assembly, Joseph Muscat, Prime Minister of Malta, announced that crypto is the inevitable future of money.

Serving as Prime Minister of Malta since 2013, Muscat has recently been an influential figure in the blockchain space.

"I passionately believe technology revolutionizes and improves systems. This is why in Malta we have launched ourselves as"The Blockchain Island" by being the first jurisdiction worldwide to regulate this new technology that previously existed in a legal vacuum.

Blockchain makes cryptocurrencies the inevitable future of money.

Progressive Crypto RegulationMalta, otherwise known as "Blockchain Island," has recently made a plethora of advancements to create an optimal environment for those in the blockchain space.

Malta's stock exchange is working with prominent blockchain companies, including cryptoasset exchange giant Binance, to list digital assets.

In early September, Binance and The Malta Stock Exchange signed a Memorandum of Understanding to jointly launch a new security token digital exchange.

"We are convinced that Malta will be the next hotbed for innovative blockchain companies and a centre of the blockchain ecosystem in Europe. Binance is committed to lending our expertise to help shape a healthy regulatory framework as well as providing funds for other blockchain start-ups to grow the industry further in Malta."

In addition to Binance, Tron and several other large blockchain companies have announced intent to set up shop on the island and invest in Maltese economy.

Over the next month, Malta will be playing host to two major blockchain events, the DELTA Summit on Oct. 3rd and Malta Blockchain Summit on Nov. 1st. In addition, a Malta Blockchain Hackathon will take place between Oct. 31 and Nov. 2 at the InterContinental Malta, and is still welcoming registrations from individual developers or teams whom present diversity in their skill-sets-for example, smart contract developer, web UX/UI designer, server and client-side web development, and project management.