The blockchain revolution continues to gain more traction within the Malta thanks to the imminent enactment of Malta’s unprecedented legal framework for blockchain and distributed ledger technologies.
David Zahra & Associates Advocates, as early enthusiasts of DLT technology and cryptocurrencies, have observed with great interest as the technology has developed beyond its roots as an idealist dream, into the brilliantly innovative, flexible, and disruptive new tool it is today, which is now in the process of legislative enshrinement and implementation in Malta.
In this respect, David Zahra was recently queried by The Commercial Courier on Malta’s potential as a hub for blockchain and cryptocurrency development and issuance, and the potential effects of blockchain on pre-existing Maltese businesses.
Dr Zahra had this to say in his brief contribution;
“People tend to get caught up in the market value of cryptocurrencies, however the most fascinating aspect of blockchain is its potential to improve the transparency and efficiency of our businesses, and to stimulate new development through initial coin offerings (ICOs).
Its application within the real estate, maritime and aviation industries are particularly apparent, and these are likely to be the first areas of thorough implementation. The possibilities beyond that are endless for both the private and public sectors.
Over the past years, Malta has unassumingly cultivated the perfect habitat for blockchain. The strength of our existing financial services sector will lend itself well to the development of a blockchain industry, as will the steady stream of qualified and enthusiastic talent from our universities.
Malta has stolen a march on other jurisdictions by taking quick action to regulate blockchain and create a legal framework. Our star is rising fast, as more and more respectable blockchain figureheads choose Malta as their ideal destination.
Certainly, as long as we remain diligent and make the quality of our infrastructure and services our top priority, the sky is the limit.”
Recognising the potential of blockchain early on has allowed David Zahra & Associates to remain at the forefront of legal blockchain knowledge and awareness, and the company is pleased to have added many of the mechanisms, functions and obligations considered within Malta’s new cryptocurrency framework to its suite of legal services.
For further information regarding the services offered by David Zahra and Associates Advocates in the blockchain, ICO and cryptocurrency sector, interested parties should send an email to info@davidzahra.com.
