The enthusiastic promotions of Malta as “blockchain island” may have come and gone, but Economy Minister Silvio Schembri is adamant that blockchain technology has brought –and continues to bring – significant economic benefits to the island.
Pressed to quantify this economic benefit in an interview on Andrew Azzopardi on 103, however, Schembri maintained that it is not a benefit that can be measured easily, describing blockchain as a technology with multiple – and not necessarily direct – benefits.
“Can you describe how much does email contribute to the economy,” the minister retorted by way of example, dismissing Azzopardi’s suggestion that a calculation of this benefit could be made.
Did blockchain help end Malta’s greylisting?
And in Schembri’s view, one notable benefit brought by blockchain technology was an indirect one: its use in Malta’s efforts to overcome its grey-listing – the first for an EU member state – by the Financial Action Task Force.
It did so, he said, through...
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