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​Blockchain is approaching application in the field of rentals in Malta

2019-06-25 11:00 am | Resource: News Section | No Views : 114

​Blockchain is approaching application in the field of rentals in Malta The Prime Minister of Malta, Joseph Muscat, said that Blockchain technology will be applied in real estate, as each lease in Malta will be listed and registered in the platform of this technique.
Muscat made the remarks during an interview with Radio One on Sunday (June 23rd), in which he explained that the reformed rent laws had been approved by the cabinet after a long consultation period.
The Malta Prime Minister added that this initiative guarantees security and prevents tampering with records, and only guarantees authorized persons access to records. In addition, the distributed ledger prevents the possibility of contracts in a place where there is no record.
He continued:
"We will now show people the added value of Block Chain technology by applying it to something they will use in their daily lives, that shows how digital transformation will affect their lives."
Malta is one of the most supportive countries for the digital currency market, as well as the emerging block chain technology, which has in the past attracted many companies operating in this area to work from its territory, to increase investment in the country.
Malta, also known as Blockchain Island, was first launched in the digital world in July 2018, when it released a convenient regulatory framework for distributed notebook technologies. Electronic money, financial instruments, virtual symbols and virtual financial assets were given a path to legitimacy. By March of that year, Malta's lawyers had called themselves:
"A tolerant regulatory environment, an educated workforce, and membership of the European Union, all contribute to Malta becoming a thriving center for the Block chain experience".
The government will reveal full details of the proposed rent reform in the next few days and how the current proposals submitted by it will be implemented.
Blockchain technology is still in control of a large group of international institutions and companies, and even many different governments of the world, which have recently turned to scientific research in this field, in order to make the most of this technology and how to apply them in the various fields of industrial and commercial investment , Which achieve its safety, speed, and accuracy as well.

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