Malta Digital Economy and Innovation Junior Minister for Financial Services Silvio Schembri recently announced that the Malta Business Registry will be the country’s first government agency to use a blockchain-based system, Zeta reports. During his remarks at the MBR’s inauguration, Schembri said:
“The premises will serve as the beating heart of the technological activity in Malta. It will reflect our drive to remain at the forefront of the digital revolution, our commitment to embrace new emergent technology and give it room to flourish in our strong ecosystem.”
Previously, the Junior Minister has suggested that the government’s intensive investment in blockchain technology would enable it to expand the services it offers to people on the island, while improving efficiency. Malta has spent the last several years working to transform itself into a “Blockchain Island” by focusing on adopting the technology, creating sensible regulation, and encouraging blockchain and cryptocurrency firms to take up residence.
In addition to blockchain technology, the MBR will also reportedly incorporate artificial intelligence into its systems.