Maltese economy

Schembri Seeks to Strengthen the Maltese economy through Blockchain

Silvio Schembri, the parliamentary secretary for Financial Services, Digital Economy and Innovation has held a number of meetings with delegates from some of the leading companies in the blockchain industry. The meetings were all held in New York and are aimed at seeking avenues to improve the Maltese economy through the use of blockchain technology. Although these series of meetings that were held in the United States have some positive outcomes, most striking of all the outcomes of these meetings is the fact that some of the biggest blockchain firms in the world will be sending delegates into Malta for the purpose of setting up blockchain businesses .

Who is Silvio Schembri?

Silvio Schembri was born on the 21st of May, 1987. He is a Maltese academia as well as a politician and is currently a member of the Maltese house of parliament. In addition to serving in the Maltese house of parliament, Silvio is currently the junior minister for financial services, innovation, and digital Economy in Malta. Due to his political offices, Schembri is also a key figure in Malta’s blockchain system. As one of the important figures in Malta’s blockchain system, Silvio Schembri plans to make Malta “the Blockchain Island”. The desire to make Malta the Blockchain Island has led Silvio Schembri to hold a series of meetings with some of the biggest companies in the blockchain ecosystem.

How will the Presence of Blockchain Businesses improve the Maltese economy?

While on a visit to the United States, apart from meeting with some of the biggest firms in the, Schembri was also in attendance at the 38th International Telecommunications Satellite Organization (ITSO) Assembly of Parties in Washington DC. As a representative of Malta at this meeting, Schembri proved the commitment of the government of Malta to boost the country’s communication sector. This is because if Malta’s communication sector fares well, it will go a long way in ensuring the development of the Maltese economy as a country. In addition to the role of ITSO in improving Malta’s communication sector, the presence of blockchain businesses in Malta will have a positive effect on the Maltese economy.

About ITSO

The International Telecommunications Satellite Organization (ITSO) is an organization that is known for the provision of telecommunication aid. Among the services that this organization produces are video data and voice data. At the moment, this organization comprises of 149 member countries.

In addition to providing telecommunication services to its member countries, the International Communication Satellite Organization plays a role in ensuring that the key principles that are involved in the provision of international public telecommunication services are strictly adhered to.

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