As of late at the Delta Summit, the Prime Minister of Malta Joseph Muscat talked about the blockchain technology as well as the requirement for governments to comprehend the need for regulation. He additionally said that Artificial Intelligence and best-in-class administrative structure were the regions that were next in focus for the Malta Government.
The Prime Minister expressed that the Artificial Intelligence innovation can turn out to be highly advantageous to the blockchain industry. He proceeded to state:
“We are sure that with AI we can replicate and improve what we are doing now here with blockchain.”
Joseph expressed that he was moving far from a business model in light of “decentralisation of information”. He included that the blockchain will progressively give more control to an individual. He said that in a period where fundamental democratic norms were being tested, he was witnessing the introduction of another technology. The Prime Minister expressed that the blockchain held the ability to democratise the technology.
Moreover, Muscat expressed that individuals would witness a draw between centralised as well as decentralised technology. As he would see it, it will turn out to be significantly more apparent later on, which will make it more vital for the administrations to get “up to scratch” with the virtual economy and society. He stated:
“And we are here to make it happen. We are as eager as you are.”
He proceeded to express that he was so excited as the members in the blockchain space. He further revealed that the government was prepared to get notification from the developers in the blockchain space about “another big idea”. Joseph Muscat further expressed:
“We want to know how we can help and how we can make that happen.”
In the opinion of the Prime Minister of Malta, it seems that Artificial Intelligence can be the greatest advantage to the blockchain technology.