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Maltese banking considers that cryptocurrencies are here to stay

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Marcel Cassar, director of the Malta Bankers Association, said that blockchain technology is the "dream of a banker", also asserting that cryptocurrencies are here to stay, in a recent interview with the Malta Independent.

The banker says that the banking industry must keep pace with a digital world those changes with a dizzying speed, comparing it with a Formula 1 car. He says that at the moment the slowness in adapting will make the blockchain technology can´t be implemented immediately, but that it would be revolutionary for the industry. "Considering our experience in technological innovation, a blockchain revolution of businesses and governments may still be years away because many barriers should be brought down before this," he said.

However, Cassar emphasized repeatedly that blockchain technology is not disruptive, but rather a foundational platform that could lead to the creation of new platforms for social and economic infrastructure.

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There is no doubt with that and it is also important that banking industry take full support of Cryptocurrency and Blockchain technology, as it is something that makes HUGE impact and no way, it is possible to ignore that. We have seen so much activity in Chinese Region lately, especially with the news of JD.com getting approved by the China Banking and Insurance Regulatory Commission to invest $483 million Yuan into Alianz’s China unit. It’s really nice and exciting for one to keep track of everything, as that only makes it easier for one to work.

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