Crypto Is “Here to stay” Says Malta Bankers Association

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A newly appointed chairperson of the Malta Bankers Association, Marcel Cassar, is very positive about cryptocurrency and the blockchain technology.

According to an interview with The Malta Independent, Cassar expressed that blockchain sounds like a “banker’s dream.” and the cryptocurrencies are “here to stay,”.

“Going by our experience of technological innovation, a blockchain revolution of business and government could still be years away because many barriers would need to fall in the meantime.” – said Cessar.

According to Marcel Cessar, the banking industry is chasing the digital world. He explained that “the present environment in which the digital world is evolving is like a rush-hour gridlock trapping a Formula 1 car”.

He also expressed that the changes will take time.

“Going by our experience of technological innovation, a blockchain revolution of business and government could still be years away because many barriers would need to fall in the meantime.”

“Blockchain Island”

Malta’s Prime Minister recently welcomed Binance, world’s largest cryptocurrency exchange by trading volume, in the country. He was clear on his desire to make the small Mediterranean state – a “Blockchain Island”.
Malta is already a home to many gambling companies and an important financial center.

 

Do you think that blockchain will be successfully adopted by the banking sector? Share your thoughts in the comments below!

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