Sputnik DLT works with Maltese government to promote blockchain
Learn how Sputnik DLT is working with Maltese government and Waves to promote blockchain for governments and businesses.
Sputnik DLT CEO, Artem Tolkachev, and Waves CEO, Sasha Ivanov, met with Hon. Dr Joseph Muscat, Prime Minister of Malta and Hon. Silvio Schembri, Junior Minister for Financial Services, Digital Economy and Innovation to discuss the potential use of Waves platform by the business and public institutions.
The discussed range of applications includes healthcare, land registry, education, voting and tokenising financial instruments. Sputnik DLT helped to design the initial concepts and is going to develop them further using Waves technology.
Malta's Ministry of Health provides medical supplies to all the Government's hospitals as well as supplies thousands of patients entitled to free medicine through a "Pharmacy of Your Choice" scheme. These medicines are delivered to almost every pharmacy around Malta to be collected by patients.
Blockchain could help keep track of all the supplies and medicines and their movements from importing to distribution, which will help eliminate fraud and counterfeit.
Medical records of the Maltese citizens could also be put on the blockchain. In Estonia all the medical records are stored on the blockchain. The database would be available to all medical institutions of Malta and the Maltese citizens would get the right to decide to who and what data to disclose.
Malta's Lands Authority could transfer its register of public property and ownership rights on the blockchain. Tokenisation of real estate assets would minimise bureaucratic red tape and make transferring property rights much easier and secure.
Unified tokenised land and real estate registry would enable transparency of information regarding ownership rights, simplify the process of transferring property rights and significantly reduce the time of such operations.
All the information could be securely stored in an immutable distributed ledger and all the underlying processes would become transparent and streamlined for public authorities and citizens, making transfer of property rights as simple as sending an email.
In 2016 Sweden's State land service has announced its successful collaboration with ChromaWay, Kairos Future and Telia. Same year BitFury and National Agency for Public Registry announced the testing of cadaster registration based on blockchain in Georgia.
Junior College, University of Malta and the Malta College for Arts, Science and Technology (MCAST) could put their official records on the blockchain making it immutable, secure and easily auditable.
Blockchain platform would enable students to quickly and easily get a verifiable, tamper-proof version of their diploma that they can share with employers, schools and family and give them autonomy over their own records
Massachusetts Institute of Technology in the US has already issued official records of the graduates on the blockchain in a format that can exist even if the institution shuts down.
Malta's Prime Minister, Joseph Muscat, commented:
Over the last months, the Maltese government has actively solved how to position Malta as a major hub in terms of the digital economy, which will play a central role in the economic sustainability of the years to come. The Maltese government has legislated three acts that will provide legal certainty to this space, involving DLT and digital financial products and services such as virtual currencies and ICOs.
Sputnik DLT is looking forward to continue working with Maltese regulators in order to come up with new and creative ways to apply blockchain and improve business processes. Digital economy is at its dawn and Sputnik DLT is focused on becoming the leaders of this exciting direction.