Malta’s prime minister: Cryptocurrencies will inevitably become the future of money

Malta's prime minister: Cryptocurrencies will inevitably become the future of money.

Image source: Shutterstock / Trijo News

Tim Haldorsson

tim.haldorsson@trijo.co

That cryptocurrency will become the future of money is inevitable. This according to Malta's prime minister Joseph Muscat.

Previously, Joseph Muscat, Malta’s prime minister, has expressed himself in a positive way about bitcoin and cryptocurrencies. The Maltese government has also worked to establish Malta as a country that is positive towards and wants to promote new technology such as cryptocurrencies.

Recently, Joseph Muscat said to the United Nations general assembly that bitcoin and other cryptocurrencies will become more widespread, get mass adoption and become the future of money.

“Bitcoin and blockchain have the ability to eliminate third party service providers, giving users more freedom over information and money”, Joseph Muscat said speaking at the United Nations.

Blockchain helps filter good business from bad ones

The use of public blockchains allows you to filter good companies from bad ones. Because if a company manages its business on a blockchain, the business becomes more transparent and open for review, the prime minister said at the United Nations meeting.

Malta’s positive attitude towards cryptocurrencies has led many big crypto companies, such as Binance, to choose to move part of their business there, something that was previously reported by Cointelegraph.

Follow Trijo News on FacebookTwitter and Telegram.

Keep up with the latest news

Read more