Malta has entered a partnership with Omnitude, a multi enterprise blockchain middleware platform, to use the blockchain to boost its public transport service by developing a transportation and logistics platform employing the company’s middleware technology. Ian Borg, Malta’s Minister of Transport, Infrastructure and Capital Projects, commented in a news release, We believe in Omnitude’s blockchain technology and its wide use cases for the authorities. We may see its potential in a wide range of government departments and it’ll develop a cornerstone technology stage as part of our commitment to drive forward innovation. It’ll improve the quality of life and improve access to information such as Maltese citizens.
Blockchain technology is an integral part of our national technology strategy which will see us alter different sectors. ,Omnitude first surfaced as a brand new concept in blockchain ecosystems by an existing ecommerce agency. The company seeks to build further blockchain solutions which integrate both business apps and supply chains. Malta’s authorities has also approved the block chain strategy earlier this season, which makes it one of the earliest nations in the world to integrate a national strategy based on its technologies. Apart to work on improvements to the nation’s transport system, Omnitude can also be partnering with Formula One to deliver blockchain advantages to advanced racing and technology jobs.
Chris Painter, Chief executive officer and founder of Omnitude, clarified, Governments around the globe are starting to see the potential of blockchain to lessen costs and streamline services. Malta has a very progressive government and we are pleased with the potential that this partnership brings. As a middleware technology, Omnitude’s possible use cases are vast and we anticipate working with the government to explore the capabilities of Omnitude’s broad based blockchain ecosystem. ,Since ancient March 2018, Malta has worked tirelessly to establish itself as a Bitcoin hub. The nation lately welcomed the Hong Kong Binance in the region where it’s now establishing newfound residency following regulatory scrutiny in Asia. In only a year older, Binance is among the largest and most popular cryptocurrency exchange in the world. Weeks after, it was declared that Japanese trading exchange OKEx and blockchain based equity fundraising platform Neufund were launching offices inside the island’s borders. Malta further cemented its reputation as a blockchain enthusiast by proposing 3 new cryptocurrency bills, such as The Bill on Digital Innovation Authority Bill to concentrate further on government structures and oversee the legality of dispersed ledger technology platforms, the Technology Arrangements and Services Bill, which requires technology service providers to undergo a registration process, along with the Virtual Financial Assets Bill, which seeks to regulate initial coin offerings .