InWara - ICO Database, ICO review, Security tokens and more

Malta’s filip to adoption: All rental contracts on the Blockchain

 Malta Blockchain Island wants rental contracts on the Blockchain

Prime Minister of Malta, Joseph Muscat, announced, yesterday, that every rental contract in Malta would be registered on the blockchain. The prime minister said that this reformed rental law was approved by the cabinet after long consultations.

Aside from a massive boost to Blockchain adoption, the initiative ensures security, prevents tampering of records, and ensures only authorized personnel can access records, said Muscat. Further, the distributed ledger technology prevents any possibility of there being contracts in place for which there is no record ensuring that there is no informal economy.

 

 "Want to know which projects are based in Malta?"  Get started

 

He continued: “We will now show the  people the added value of blockchain by applying it to something that is tangible. Something which they will use in their daily lives.”

Malta – famously (in the crypto community) known as the “blockchain island” – was an early adopter in the world of cryptocurrencies with the first projects dating back to early 2017 (InWara’s Market Intelligence Platform). Later, in July 2018, Malta released a relaxed regulatory framework favorable to distributed ledger technologies and so, electronic money, financial instruments, virtual tokens, and virtual financial assets were offered a path to legitimacy. Interestingly, by mid-2018, Malta’s lawyers were reportedly tokenizing themselves.

 

 "Find out how much money moved to Malta via Blockchain Projects!"  Get started

 

A tolerant regulatory jurisdiction, vastly educated workforce (there’s a rather famous story of a fisherman who asked an attendee of the Malta Blockchain Summit if he could be paid in Bitcoin), and the E.U. membership all contribute to Malta becoming a growing hub of blockchain experimentation.

It is expected that the government will reveal more comprehensive details of the proposed rent reform in the coming days.

Register for a free trial

The Most Trusted

Market Intelligence Platform

Get Started