Malta’s recent conference to discuss Blockchain and Cryptocurrency Regulation. The conference was opened by Parliamentary Secretary, Silvio Schembri who expressed the opinion that the Maltese Government was planning to launch a new Digital Innovation Authority Bill (DIA) which will operate as the only regulator for ‘Innovative Digital Technology’. The Technology Arrangements and Services Bill (referred to henceforth as TAS) was also mentioned by Dr Schembri, as was the keenly anticipated Virtual Currency Act. The triumvirate of bills will form the foundation of the Maltese Blockchain and Cryptocurrency Regulation.
In 2009, a seismic shiver ran through the financial sector. The global financial crisis was more than just a practical disaster. On a psychological, philosophical, and ethical level, it exposed crippling uncertainties within the financial arena. Like a weed in the heart of the garden, the roots of this failure ran frighteningly deep.
The blockchain is one of the hardest things to explain about cryptocurrency and Ethereum’s smart contracts can be every bit as confusing.
Each time technology advances, the benefits you gain come with risks. Since its emergence, those who use the cryptocurrency processor Blockchain have begun to question whether it is overhyped. Through a combination of anecdotal experiences and thorough research, Blockchain users have identified some of the perils of using the channel.
Blockchain, at its core, is designed for the distribution of information. Wikipedia is a good example to use for comparison when tackling the subject of ‘what is blockchain technology’.