Malta, The ‘Blockchain Island’, Pivots Toward AI Development

Malta, The ‘Blockchain Island’, Pivots Toward AI Development

November 18, 2018

Malta, the little island that is part of the European Union, hA managed to become the headquarters of several companies in the crypto world. With attractive legislation, officials especially dedicated to promoting technologyM and a convenient tax regime, large players of the crypto ecosystem have already settled on this small island in the Mediterranean.

Now they are going for more. Attracting artificial intelligence is the next goal.

November 1 marked another historic day for Malta. The three laws of distributed ledger technology officially came into effect, providing a holistic regulatory framework within the crypto and blockchain space. What this means is that the newly created Malta Digital Innovation Authority (MDIA) and the Malta Financial Services Authority (MFSA) can now start receiving license applications from those interested in operating in Malta.

In addition to the first blockchain applications reviewed by the Maltese government, the Minister of Malta, Silvio Schembri, is now entrusted with the ambitious role of positioning Malta at the forefront of Artificial Intelligence (AI) and the Internet of Things (IoT). ).

Schembri announced that Malta is looking to take advantage of Artificial Intelligence, a sector that is expected to sustain $ 15.7 billion USD of global economic growth by 2030. The announcement was made during a private event in Malta, held in the presence of the humanoid robot Sophia of Hanson Robotics. Sophia uses multiple artificial intelligence modules to see, hear and respond with empathy.

In addition to using blockchain technology in the public sector, the government of Malta is studying the application of artificial intelligence in the public sector as well. According to Schembri, Malta has already identified several sectors in which AI can help, such as health, education, transport and logistics.

“The flourishing of AI in all its aspects in Malta, which we are now seeing with this Task Force, has the potential to play an important role in ensuring that the next AI Singularity is positive for all,” said Goertzel.

This story was originally published in Spanish at Cripto247

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