Topic: Malta is playing strong game (Read 287 times)

That is actually just the thing. They are so fast to see the benefits, they know what the country will derive from it if they take that bold step and we can all see how that has been paving out for them.

We have all seen for a while now, how some of the exchanges alone have been making a huge amount of revenue daily and imagining some other blockchain businesses that will always tend to move to a more cryptocurrency or blockchain friendly zone in the long run will bring to their economy. I guess they are so smart to take the bold step than being a laggard in the long run, which is what most other countries will end up as.

Malta is currently a leader in crypto adoption and  is a great country for uprising projects and exchanges.

It is just very unfortunate that not every country will be as smart as Malta. Obviously, Malta understands the fact that blockchain is the future, and knows simply that cryptocurrency is the future of money and are ready to be on the forefront knowing the importance it would bring to their economy.

This is a government that knows what they are doing, and they have all the regulation framework in place to be able to get Malta to be a very friendly country when it comes to blockchain and over time, we will get to see how this would obviously help them a lot as we are even beginning to see a lot of blockchain businesses flocking to this part of the world already.

it might become the giant of crypto in future. many big things come from the small country.

Bitcoin, cryptocurrencies and blockchain have already been embraced by the government and people of Malta — which has tried to establish itself as the world's "blockchain island." Now, in an address to the United Nation's General Assembly, Malta Prime Minister Joseph Muscat has said he sees blockchain technology as the tool which will allow bitcoin and crypto to "inevitably" gain widespread, mass adoption and become the future of money. Muscat has previously said he believes bitcoin and blockchain have the ability to eliminate third party service providers, giving users more freedom over information and money. “I passionately believe technology revolutionizes and improves systems," said Muscat. "This is why in Malta, we have launched ourselves as the blockchain island.

Malta's attitude to bitcoin and blockchain has been praised by the global cryptocurrency industry, with the CEO of Binance, Changpeng Zhao, saying the company will be investing in Malta to help grow its local blockchain industry and local cryptocurrency companies.

(Source: https://www.forbes.com/sites/billybambrough/2018/10/01/massive-inevitable-bitcoin-prediction-made-by-maltas-prime-minister/#6c27cafe1b82 )

It is really good that Malta has made such an initiave and a friendly move towards crypto acceptance and has really set an example for other places who are not welcoming the crypto change with open arms. Malta's PM obviously can now expect a flourished economy for his country and his vision is really farsighted and admirable. Muscat has led his people to such a vision and they now have realized how far they can go with this modern virtual world.

P.S.: This blockchain island of the world is doing really well!!

It is actually a very interesting play I must say and the truth of it all is that this is a country that realize pretty much the benefit they are going to be deriving from the adoption of blockchain technology as well as cryptocurrency in their country. Businesses are popping up daily within the blockchain sector and of course will be looking for friendly environment, and this kind of step they have taken is one thing I see only a smart government taking.

Fortunately, not all developed countries, are like you said. Estonia, Luxembourg, South Korea, Singapore and Switzerland are known for their friendliness toward cryptocurrencies, and they are developed countries according to the CIA World Factbook. As for others, I think that slowing down the process of crypto adoption is a mistake on their part. Not keeping up with the progress, they may end up losing their positions as leaders in the economic field.

Malta has always been a country that loved the foreign money income. They have gambling places which attracts all kinds of people to go there and gamble. They have online gambling certificates which means anyone can open an online gambling website and just start a business there to make it legit which also provides a lot of money to them. They have managed to get European visa for people who would want one and just ask for certain amount of money for it.

Malta is built upon the idea to make money from foreigners in general. Hence, trying to attract blockchain and crypto people by making everything on that space legal wouldn't surprise me, they would want that money to come to them as well.

Yes you are right.  Malta really seeks to develop this technology and tries to do it, including at the legislative level!

Comes to little surprise as Malta is very open in terms of business opportunities that elsewhere get regulated to oblivion. They already play an important role in EU-based gambling licensing, I wouldn't be surprised if they want to achieve a similar safe haven status with crypto.

Exactly. Malta is great for crypto and blockchain, but most probably not for mining.
But it doesn't matter. Exchanges, financial services, various startups still get profit and have to pay taxes. If they go to Malta, they will pay taxes in Malta and Malta will be on the winning side.
I am sure that they've done some minimum calculation, didn't just get in love by blockchain just like that.
But it's OK. A rare win-win situation.

Malta is strong because government supports blockchain. If every government supports such innovation then transformative technologies are going to evolve significantly.

I think they really see the benefits of not just using blockchain, but the what it can bring to a small nation just like them. As @figmentofmyass, superpower countries are very timid and less enthusiastic because, they're financially stable as compare to 2nd or 3rd world countries. But what we do like about them is that they really spearheaded it for some time now that's why crypto related projects, exchanges are now moving to them.

In the first half of 2017, the average electricity price for households was 12.78 euro cents per kWh.
https://en.wikipedia.org/wiki/Energy_in_Malta

Production  0.1
Import      24.9

Yeah, it makes total sense for mining companies to go and set up camps a country that relies 99-100% on energy imports.

Besides, who mentioned miners in the first place? This is about blockchains!

malta is making a strong move to secure position in the crypto exchange regulation industry. very smart move for a small island nation in their position.

i think they'll succeed, just like they did with internet gaming/poker regulation. they're the biggest online gaming regulator in the world, and it represents a huge part of their national economy now.


in theory, they could. the truth is that superpowers are probably increasingly afraid to regulate cryptocurrency too harshly. that would just push technology innovation and economic growth to competitor nations.

it's difficult for governments to have a united front against crypto when they are all afraid of getting left behind.

For some reason it's easier for the small countries to become more crypto/blockchain friendly.
I guess that the big countries are under the influence of the banksters,who are fanatic fiat supporters. 
I remember that Leupay,which is an awesome digital financial service is located in Malta.
Let's hope that the EU won't stop or ban the crypto adoption in Malta.

This news is not new to Malta, and before the beginning of this year, many projects went to that country.
I hope the laws are strict and not just regulation for taxes because that will increase the bad reputation of Blockchain and will make Malta like some countries like Panama. IMO
Generally, if these projects find the attractive environment, they will be long-term investments rather than temporary periods until the legal status of the superpowers is clarified.

Open innovation country like Malta will have a chance to be on top of this Blockchain race in the future. Like Switzerland, Japan, South Korea they understand how valuable this technology is, that's why they are making sure that they're doing the right thing. I hope some other strict countries will loosen their ties to open mind and understand the benefit of Blockchain in their economy. 

Congratulations to Malta. This is good news for the world of Crypto. This is not a small thing for the world of Blockchain and Crypto, even though it was born from a small country, the reality that it is precisely from this small country this contribution emerged. happy to hear this good news.

Malta is a small country. It's as small as the crypto in the financial world. When looking from many angles will see how the growth of crypto will be how big.