Malta aims to explore artificial intelligence

Victoria SavchukNovember 2, 201819

The Maltese government announced about the creation of a scientific group to develop a national strategy of AI (artificial intelligence).

Junior minister of financial services, digital economy and innovations Silvio Schembri claimed about the launch of a governmental initiative ‘’ which says that Malta seeks to become an AI country. He said that the country is going to develop a friendly normative environment for AI in the same way it has already done to blockchain technology:

 “After the successful image of Malta as “a blockchain island”, the country has become the first in the world to have regulated DLT products and services. Now we want to present Malta among the 10 leading world countries using artificial intelligence,” the press-release says.

The government has already started a website for their national AI strategy. According to the official statements at Malta Blockchain Summit, AI projects will be controlled by the Malta Digital Innovation Authority, the same organization which controls DLT. will collaborate in a pilot project with SingularityNET, a decentralized AI service market.

Malta has gained a reputation of having a proactive and friendly jurisdiction with regards to blockchain and cryptocurrency businesses. The government announced about its intentions to make a country the DLT leader in February. In early July the parliament has adopted 3 bills which establish a good regulatory framework and legislative environment both for cryptocurrency and blockchain industry. Since the county has become an oasis for crypto startups, including global cryptoexchanges such as Binance, OKex and BitPay.

Other important news from the Cryptocurrency world and Blockchain

We wrote earlier that Malta adopted new laws on the regulation of the cryptocurrency industry.

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Victoria Savchuk