Malta wants to be most innovative country in the world - Joseph Muscat

The new legislation adopted by Malta has made the country ready to embrace various future technologies, aiming to put it at the forefront of innovation worldwide, Joseph Muscat said.

The Prime Minister, who was addressing a Blockchain Leadership Summit in Basel, Switzerland on the adoption of the technology by government, said Malta had drafted into law technology-neutral legislation which gives the island the advantage of being prepared for future technological advancements.

In July, Parliament approved three bills establishing a regulatory framework for Malta’s up and coming blockchain sector. But Muscat today said at the summit that the laws weren’t specifically tied to blockchain as a stand-alone.

He highlighted how the Maltese government was applying blockchain technology to governmental application such as educational certification and qualifications. 

“This means that such information can follow a person across borders without the need to carry certificates around from one place to another,” the government said in a press release, adding that Muscat had mentioned other sectors that can adopt blockchain technology, and had referenced how the government is looking at health, transport and lands sector as low-hanging fruits that the country could benefit from it.

Muscat also underscored that Malta is aiming to become “the most innovative country in the world” by building an eco-system that is ideal for companies that want to invest in new technologies. 

He added that the country is offering certainty and transparency by means of its legislation which was driven by the grassroots following serious consultation with disruptors, innovators, consumers and the industry.