Malta’s blockchain, AI loss is Estonian and Swiss gain
While blockchain operators struggle to open bank accounts in Malta, Estonia and Switzerland are forging ahead and attracting business, the organiser of the Malta Blockchain Summit has warned.
“The hype about Malta as the Blockchain Island peaked during the Malta Blockchain Summit last autumn, but while the Virtual Financial Asset agents have since then been approved by the Malta Financial Services Authority, operators are getting impatient about the lack of banks willing to open accounts for them,” Eman Pulis warned.
“Banks are very concerned that doing so might spook their correspondent banking relationships – and if these were pulled, then Malta would lose its ability to work in the US banking system. It is a major issue so I cannot say that I blame them,” he said.
He pleaded for all the stakeholders to remain aligned, saying that much could be achieved if everyone worked together.
In spite of the competition and delays, he still sees considerable potential in the blockchain/artificial intelligence sphere, saying it would complement what has already been achieved in the gaming sector.
“Blockchain and AI will be the future for gaming and its regulation puts the Malta Gaming...