European Parliamentarian Says DLT ”Provides More Security”

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Member of the European Parliament (MEP) and Maltese government official Roberta Metsola, has stated that decentralization via distributed ledger technology (DLT) is a more secure option than centralized models.

Speaking at the Malta Blockchain Summit on 2 November 2018, Metsola stated that European officials should make it their duty to inform citizens of this fact, saying that blockchain’s primary focus regards ”increasing trust” between parties, as reported by Cointelegraph. According to Metsola, its use can bring ”peace of mind” because of the trusting decentralized quality.

Metsola also took the opportunity to share her positive outlook on the European Parliament’s handling of the cryptocurrency and blockchain industries, saying that these subjects remain firmly on the agenda, with MEPs currently being encouraged to turn adoption from a ”vision to reality.”

However, she included that the parliament had to be sure to encourage the ”right type of regulation,” which for her means to avoid stifling innovation.

In Malta

Malta’s newest blockchain and cryptocurrency legislation passed in July was brought up by Metsola as a ”good step forward” and an example of the type of regulation that can be implemented in the European Parliment’s jurisdiction. Europe’s open, non-restrictive regulatory system was said to allow other countries to follow in Malta’s wake.

Despite this praise, she said it was still important for the government to remain alert for any changes or issues within the industry that requires its support.

Malta has managed to firmly establish itself as a country at the forefront of progressive blockchain regulations. As reported by Bitcoin News, Prime Minister of Malta Joseph Muscat, gave a speech to United Nation’s General Assembly (UNGA) in September where he declared cryptocurrencies to be the ”inevitable future of money.”

He also shared the promise he sees in blockchain technology as an answer to pressing issues such as healthcare records and verifying humanitarian aid.

 

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