“Companies can relocate their business to Malta and they can operate in an environment where the government tells them what you’re doing is perfectly legal, so they’re not operating in a grey area where the government has no clue whether this is legal or illegal. So the companies tomorrow they’re not waking up and being faced with a government that has just decided that what’s happening is illegal but they are operating in a legal framework.”
Eman Pulis, with a background in online gaming events, is organizing the Malta Blockchain Summit in November. He’s from Malta and believes that along with the government of Malta’s legislative support, that the country will become one of the key hubs for blockchain innovation. They’re calling it ‘blockchain island’.
Not all countries are pro crypto or pro blockchain. China banned all ICOs and cryptocurrency exchanges, India banned the exchanging of cryptos for fiat and declared that cryptos are not “legal tender”. Other countries have an outright ban on digital currencies including Morocco, Bangladesh, Vietnam, Ecuador.
Blockchain technology is one of the keys to implementing Web 3.0, which will allow a more intuitive, evolved, value-transfer enabled internet. And Malta is one of the countries that is recognizing that blockchain is leading this paradigm shift. The country is opening its borders to all things crypto — traders, investors, blockchain businesses, exchanges, and ICOs. And they’re doing it not with just talk, but by backing up their support in creating legislation that fully supports blockchain businesses.
“Keep in mind this is a very new technology. Hardly any government understands what’s going on with the fast rate at which this technology is evolving.”
Eman is organizing the Malta Blockchain Summit which will be held on November 1-2, 2018. And he’s given our listeners a discount code for free tickets. Listen in to the podcast for the code.
More of Malta’s advantages are that it’s a member of the European Union and situated in Europe with neighbouring continents nearby, Africa bordering the country to the south and Asia to just to the East. All that and the weather is great too.
Eman also talks about his stance on cryptos and his support for digital currencies, like the advantages of P2P transactions, by-passing a central authority, and doing away with exchange rates when paying or trading bitcoin to bitcoin across political borders. But he also references bitcoin still having scalability issues.
In terms of what he sees in the next few years, he believes there will be public, government blockchains interacting with private blockchains and he supports decentralization so that the government doesn’t have as much leverage as it has had until now. He believes that blockchain represents the way the internet should have been, back when it was first a reality.
Listen to the podcast for a code for free tickets to the Malta Blockchain Summit.