A recent event hosted by the Blockchain Charity Foundation saw The President’s Trust speak about the positive implications that blockchain technology has on facilitating social good in Malta society.
Crypto Gives Back
While the skyrocket of cryptocurrency has brought many people a vast fortune, we’ve also seen the generosity of the crypto community as well. For example, a San Francisco charity earlier this year raised $14 million in crypto for the homeless.
While this partnership will greatly benefit both parties involved, non-governmental organizations too will benefit from this new joining of forces.
Blockchain technology allows enterprises to be more transparent, accountable, reduce transaction costs, and better integrate the real world with the internet.
While all these things will significantly benefit charities, which typically run non-profit operations and can use any efficiency improvement that they can get, corporations looking to stay ahead of the curve would be wise to take advantage of blockchain technology as well.
This partnership could also lead to changing how current and future charities from now are created and regulated, better holding them accountable by allowing anyone to see how funds are used, and if they genuinely are benefiting the party’s charities claim to be.
Blockchain Bringing Positive Change to Malta Society
Other examples of how blockchain technology is enabling social good to foster in Malta can be seen through an initiative taken by Stasis, where they took collected funds to develop a Serenity Garden for oncology patients on behalf of the Malta Community Chest Fund Foundation.
Considering that Malta regulatory framework is one of the most crypto friendly in the world, it’s of no surprise that many companies and new initiatives have found a home to in this island.
Malta’s own Blockchain Summit successfully registered over 250 developers, with over 5,000 people expected to attend the event.
President Colerio Preca said this regarding the numerous rulings in place that help make Malta a crypto haven:
“The ongoing development of national legislation, including the Malta Digital Innovation Authority Act, the Virtual Financial Assets Act, and the Technology Arrangements and Services Act, are transforming Malta into an effective blockchain island.”
As time continues, new partnerships like this one are expected to thrive in the environment Malta is cultivating. These new initiatives will not only benefit Malta directly but be an example for the rest of the world.