The Malta Delta Summit held between Oct. 3 and 5 was attended by more than 3,500 blockchain experts and politicians, including Malta’s President, Prime Minister, and government officials; the CEO of Binance cryptocurrency exchange; and more. The inaugural summit highlighted Malta’s growing efforts of positioning itself as a blockchain haven and how it is living up to the expectations of being a “Blockchain Island.

Malta has recently become a prime example of how countries can adopt crypto-friendly policies and benefit from them.

Binance Chief Acknowledges Malta’s Groundbreaking Efforts

Changpeng Zhao, commonly referred to as CZ and the chief executive of Binance cryptocurrency exchange, spoke about how blockchain technology can be used to drive economic growth.

The “Blockchain Island” is attracting new blockchain firms and those fleeing from stringent regulatory environments in their countries.

CZ said:

“This is a country where the leaders and the government understand blockchain technology.”

He encouraged more companies to learn more about Malta and establish their operations in the country.

Helen Hai, head of Blockchain Charity Foundation (BCF), a charitable organization initiated by Binance, led a panel discussion at the summit and highlighted how the emerging technology could be used to create a positive impact.

Hai said:

“When you talk about blockchain for social good, it’s not only a technical issue; it’s actually about how to work with the traditional world. For that, leadership is very important. At this stage, we need industry shapers to drive the technology to the right applications.”

Marie-Louise Coleiro Preca, President of Malta, co-hosted an event with Binance, BCF, and the President’s Trust at San Anton Palace to support the use of blockchain technology in combating poverty.

TRON, a blockchain platform created by Justin Sun and a proponent of using the new technology for good social causes, offered a significant amount of funding to help the BCF achieve its goals.

Binance and BCF will attend the Blockchains for Sustainable Development Forum in Geneva, Switzerland, on Oct. 24, where the issues raised at the just-ended Malta Delta Summit will be discussed further. The meeting will bring together blockchain experts, government leaders, philanthropists, and thought leaders.

Binance is becoming synonymous with philanthropic activities. Binance donated $1 million to Japanese flood victims in July.

The “Blockchain Island”

Joseph Muscat, Prime Minister of Malta, is one of the most vocal supporters of the use and adoption of blockchain technology in the world.

While addressing heads of states at the 73rd United Nations General Assembly in New York, Muscat said:

“Blockchain makes cryptocurrencies the inevitable future of money.”

In July, Malta passed into law three comprehensive blockchain bills, which cemented the country’s position as a “Blockchain Island.” Malta has so far experienced an influx in applications of blockchain companies that want to open their offices in the country.

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