According to the Maltese Prime Minister, Joseph Muscat, cryptocurrency is the “inevitable future of money.”

The country has never shied away from embracing crypto and its underlining technology—the blockchain. According to the Prime Minister, it is this technology which allows the future of money to be more transparent.

The Inevitable Future of Money

Muscat believes that using blockchain will filter “good business from bad business,” but that’s only the beginning. He believes “distributed ledgers can do much more.”

The Prime Minister addressed the 73rd Session of the General Assembly of the UN on September 27th.

Blockchain Island

And no one is more poised to speak about the benefits of blockchain than the Prime Minister of one of its biggest advocates.

Malta has been taking steps to become a blockchain island. It is the first jurisdiction to regulate the technology, offering a sTron (available on Binance)g impetus for crypto industry giants to relocate there. Binance, OKex, and BitBay are just some of the major exchanges which have moved operations to the island.

To add to this welcoming crypto climate, the government approved three new crypto bills in June, to further incentivize blockchain business to the country.