We've all seen the movies and read the sci-fi books about machines and robots taking over the world. But how close are we to that becoming a reality? Smart contracts are becoming more and more commonplace in our society. Will they replace lawyers, accountants, and other officials completely or is this still just a fantasy?
Until relatively recently, the tiny island nation of Malta was perhaps best known as a favourite holiday destination for many a European tourist. In fact, this Mediterranean hotspot is still said to host three times as many tourists as actual Maltese residents at any one time. However, while the hotels and beaches are still bursting at the seams with sun-seekers, Malta’s economy has been steadily diversifying and expanding in interesting new directions. One such direction has been a movement into the digital realm, with Malta becoming a pioneering player in this respect. As attention on cryptocurrencies increases so has the discussion surrounding regulation. As such, cryptocurrency regulations in Malta are a hot topic.
With an anticipated 5,000 delegates and 222 speakers covering the world-changing applications of blockchain technology, this expo will light up the Intercontinental with technology minded businesses and entrepreneurs.Further topics covered by the speakers include AI, Big Data, Quantum Technology and IoT. Representation from the Maltese Government and major blockchain and cryptocurrency companies include;
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.One of the responses to this has been a shift away from centralised banking and towards technologically driven decentralised networks. Enter Blockchain. Blockchain represents an ideological statement that rejects the central ledger approach, and instead gives power to hundreds of thousands of users, each participating in the transaction approval process. Known as decentralised ledger technology (DLT), Blockchain harnesses technological innovation for financial security, stability, and trust.
To maintain its place at the forefront of the cryptocurrency sector, the University of Malta is to provide a €300,000 scholarship fund for students of blockchain and distributed ledger technology.The fund will start this year and will be split over three years to support students who will specialise in ICT, law, finance and engineering.
The path of crypto-currencies has not run smooth since the outset of 2018. Many digital currencies, some of which had soared to their highest ever levels at the end of 2017, dropped to record lows once the new year began. Bitcoin, IOTA, Ethereum and Ripple, considered to be leaders among the crypto-currencies, lost massive amounts of value. The naysayers felt justified, and some were even waiting for the end. National banks which had warned against crypto-currency value spikes fuelled by speculation, felt they’d been proven right. The truth is, however, that crypto-currencies often plummet around the new year period. Why is this? Some believe it’s because of the changes in routine at the start of a new year. Many crypto-currency watchers have observed that digital currencies with strong connections to the Asian market tend to go very quiet when festivals are on. Once the Asian traders are back at work, the action is sure to begin.
The rapid increase in blockchain technology has given many smaller countries the opportunity to attract companies and investors from a range of specialised online industries as they bid to improve their financial resources. The selling of domain names, online gambling and financial enterprises involving digital blockchain cryptocurrencies are just some of the entrepreneurial schemes and investments that small island territories in particular are keen to encourage.
