Blockchain technology is fast being adopted by governments and businesses alike. The small island nation of Malta has already made news for hosting Bitcoin meetups and offering to legalize the cryptocurrency wholesale.

Recent news from the country indicates that its embrace of Blockchain technology will continue, as the government has formally announced the formation of a Blockchain Taskforce which will provide the roadmap for implementation of the National Blockchain Strategy.

Malta an ‘ideal ecosystem’?

The news was shared via a press release from the government, which stated, among other things:

"Apart from exploiting the opportunities that Blockchain technology offers for added efficiency in public sector processes and services, the government is ambitiously looking into the setting up of a new regulatory function with the primary objective of harnessing the technology with a legal operational framework, serving as a bold initiative leading to the formation of an ideal ecosystem for those willing to invest in Blockchain technology. "

Even as China appears to be retreating from its Bitcoin dominance, other countries appear to be willing to take up the baton and run. The Taskforce will be in charge of evaluating proposals sent by private entities seeking government contracts for Blockchain implementation.