The Prime Minister of Malta, Joseph Muscat talks about the ability of Blockchain and Cryptocurrency in the UN Speech. Muscat refers to Cryptocurrency as “Future of Money”.

According to Coindesk, This happened at the general debate of the 73rd Session of the General Assembly of the U.N took place on September 27th. Muscat also talks of Malta to implement a “Blockchain Island”. Also, he adds thus malta is the first nation to regulate the technology.

“Blockchain makes cryptocurrencies the inevitable future of money, more transparent since it helps filter good businesses from bad businesses.” said Joseph Muscat, Prime Minister of Malta.

The PM also addressed the plenty of advantages of blockchain technology in several industries like the health sector, private corporations, and government organizations.

Last time we had seen Binance, one among the largest cryptocurrency exchange platforms in the world is starting its service in Malta. Besides many other cryptocurrency firms have planned to open in Malta. This is all due to the country support towards the use of cryptocurrency.

This news shows that the government in Malta has been supporting the use of cryptocurrency in the country. Moreover, they are also implementing blockchain technology on several projects. This island is a paradise for cryptocurrency firms who are planning to shift or add their business to Malta.

Soon if the usage of cryptocurrency is going to increase and it can be used every day as money and advantages of its underlying technology. This was some points the PM of Malta was focusing in the speech at the U.N.

The core objective of this speech by the PM is likely to create awareness among people and countries who have not yet adapted to the technology.