In pursuit of making Malta an enormous digital economy, the Maltese government is now seeking wisdom on other vital technologies along with blockchain tech.
To make Malta a “digital enclave,” an all-rounded approach is required, according to new updates from corroborated media outlets.
Reportedly, Kearon Bruno, Policy and Strategy Advisor at Parliamentary Secretariat for Financial Services and Digital Economy mentioned in an interview about Malta’s intention to move beyond from “blockchain island to digital island.” The country has a broader vision that would cover “all aspects and technological components” for its digital economy.
To diversify Malta’s economic portfolio via a technological framework, Malta’s first digital economy think thank launched on June 22.
Some of the important advisory board members include Dr. Ian Cassar (economist), Thomas Mahoney (gaming industry expert), Dr. Beverly Tonna (lawyer), Kearon Bruno (Economist), Kenneth Farrugia (financial industry expert), Dr. Justine Scerri Herrera (lawyer), Prof. Andre Xuereb (quantum physicist), Dr. Ernest Azzopardi (economist), Dr. Aaron Grech (economist).
Recently, while following an overarching vision, Malta Financial Services Authority (MFSA) came up with the regulatory sandbox to strengthen fintech corporations/startups to test their innovations by and large following the caveats.
The regulatory sandbox would allow Malta to become an international FinTech hub, said, MFSA CEO Joseph Cuschieri.
“Yes, we’re moving away from just crypto and blockchain, and are looking for fintech operators now” because the aim of Malta to become more attractive for startups and the regulatory sandbox is going to provide more room for tailor-made approach, said- Think Tank associate, Beverly Tonna.
However, besides Malta’s broad approach, Tonna emphasized, the country is “not shifting away from blockchain and cryptocurrency and is still “still very much active within the Virtual Financial Assets space”.