Malta Government to Enhance Public Transportation Using Blockchain Technology

Malta has entered a partnership with Omnitude - a multi-enterprise blockchain middleware platform - to use the blockchain to enhance its public transportation service by developing a transport and logistics platform using the company's middleware technology.

Ian Borg, Malta's Minister for Transport, Infrastructure and Capital Projects, commented in a press release , "We believe in Omnitude's blockchain technology and its broad use-cases for the government. We can see its potential in a range of government departments and it will form a cornerstone technology platform as part of our commitment to drive forward innovation. It will improve the quality of life and enhance access to information for Maltese citizens. Blockchain technology is a key part of our national technology strategy that will see us transform different sectors."

Omnitude first emerged as a new concept in blockchain ecosystems from an existing ecommerce agency. The company seeks to build further blockchain solutions that integrate both enterprise programs and supply chains.

Malta's government had also approved a blockchain strategy earlier this year, making it one of the first countries in the world to incorporate a national strategy based on its technology.

Aside from working on improvements to the nation's transportation system, Omnitude is also partnering with Formula One to bring blockchain benefits to advanced racing and engineering projects.

Chris Painter, CEO and founder of Omnitude, explained, "Governments around the world are beginning to see the potential for blockchain to reduce costs and streamline services. Malta has an extremely progressive government and we're excited about the potential this partnership brings. As a middleware technology, Omnitude's potential use-cases are vast and we look forward to working with the Maltese government to explore the capabilities of Omnitude's broad-based blockchain ecosystem."

Since early March 2018, Malta has worked hard to establish itself as a Bitcoin hub. The country recently welcomed Hong Kong-based Binance to the region, where it is now establishing newfound residency following regulatory scrutiny in Asia. At only a year old, Binance is one of the largest and most popular cryptocurrency exchanges in the world.

Weeks later, it was announced that Japanese trading exchange OKEx and blockchain-based equity fundraising platform Neufund were opening offices within the island's borders.

Malta further cemented its reputation as a blockchain fan by proposing three new cryptocurrency bills , including the Malta Digital Innovation Authority Bill to focus further on governance arrangements and oversee the legality of distributed ledger technology (DLT) platforms; the Technology Arrangements and Services Bill, which requires technology service providers to undergo a registration process; and the Virtual Financial Assets Bill, which seeks to regulate initial coin offerings (ICOs).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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