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Taskforce appointed to work on Blockchain strategy

Government wants to set up regulatory and legal framework

he government has appointed a Blockchain Taskforce to make recommendations for a roadmap for the National Blockchain Strategy, to make the most of the opportunities offered by the distributed ledger technology, best known as the platfrom behind Bitcoin.

The Cabinet approved a National Blockchain Strategy in April, and since then the Parliamentary Secretariat for the digital economy made a call for proposals from seven financial services advisory companies.

The taskforce will be chaired by Vincent Muscat, Permanent Secretary for the Parliamentary Secretariat, assisted by members Steve Tendon, Ian Gauci, Joseph Cuschieri (Malta Gaming Authority executive chairman), Loui Mercieca, Wayne Grixti, Carlo Stivala, and Mario Borg.

The Government is looking into the setting up of a new regulatory function within a legal framework, in an effort to create the ideal ecosystem for those willing to invest in blockchain technology.

There has been significant interest from local and international private investors, the government said, noting that the European Commission’s DG Connect has also set up a Blockchain Observatory Forum.

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