Crypto and blockchain-based companies in Malta have a hard time opening a bank account in the country according to the local crypto news outlet Times of Malta reports.
The local media outlet allegedly contacted multiple legal firms and financial companies who confirm that banks on the island keep declining their applications to open bank accounts because opening an account for a blockchain company is beyond their ‘’risk appetite.’’ The sources also claimed that the banks did not make a difference between digital currency and blockchain.
The Secretary for Financial Services Silvio Schembri stated that some of the banks are willing to open bank accounts for some blockchain companies but not for the crypto-related ones. Schembri also made clear that ‘’one should make a clear distinction between blockchain operators and crypto operators.’’
“The general understanding is that when it comes to crypto operators, banks are waiting for operators to obtain an MFSA [Malta Financial Services Authority] license before opening their doors – which is understandable.”
Malta is considered as the most blockchain-friendly country in the world and received the name ‘’Blockchain island.’’ Also, the MFSA issued a consultation paper on cybersecurity stating that the cybersecurity system of the country should comply with the international standards.
Last year in December, Malta and six countries that are members of the European Union released a declaration for helping in the promotion of the use of distributed ledger technology in the region. the documents make clear that the ‘’education, transport, mobility, shipping, land registry, customs, company registry, and healthcare, are some of the services that can be transformed by the distributed ledger technology.
NFL Players Demand To Get Paid In Bitcoin
“How dope would it be to see an ESPN headline with an athlete being paid in $BTC?”The crypto community answered right away and told Okung all the information and tools that he needs to continue on the crypto journey together. The player was happy to answer the community and even asked:
“How could something so wrong make me feel so right? I’m part of the revolution. Long $BTC, short the bankers.’’In the meantime, Anthony Pompliano also posted that the NFL Quarterback Matt Barkley was among the NFL players that also wanted to get paid in bitcoin but he didn’t succeed to get his dream come true. Again, the crypto community on Twitter praised him and offered him advice on how to fight for what he really wants. Trezor, the popular crypto wallet producer even offered to get him and his team-mates free hardware wallets to which Barkley replied he was ‘’all about @Ledger.’’ The most surprising thing was that he replied to the suggestion that he already has some ‘’skin in the game’’ and that he started mining bitcoin some time ago. Okung on the other hand, as reported in the latest cryptocurrency news tweeted that many of the NFL players are asking him about bitcoin. however, the thing goes past the dream of the player to get his paycheck in Bitcoin. He is the vice president of the NFL Players Association which ‘’assures proper recognition and representation of players’ interests.’’ It is expected from him as a person with a say in the organization to fight for the players who want to get paid in Bitcoin. With services like Bitwage available, the dream could become a reality for those who want another option in their career.
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‘’Crypto has certainly added to our growth. In the next couple of years I think you’ll see Robinhood looking like a full-service consumer finance company.’’
Blockchain For Timepieces: World’s Oldest Watch Manufacturer Gets Involved
“Blockchain certification serves to avoid paper authentication, which can easily be forged,” the company said in a press release.As the latest cryptocurrency news show, Vacheron Constantin will use blockchain tech to integrate additional information in the certificate - as well as a complete history of the product and manufacturer. The blockchain for timepieces initiative will apparently help and fight counterfeiters while guaranteeing authenticity of the watches as well as protecting the customers from purchasing fake ones.
“[Blockchain] makes it possible to create a forgery-proof digital certificate of authenticity, which follows the watch throughout its life, even if that involves several changes of owner. A unique number is thus assigned to a unique object, making the two inseparable and securing data relating to the property, value, nature and authenticity of the timepiece," the company said in an official statement.Vacheron Constantin is however not the first big manufacturer interested in blockchain for as a technology and featured in the coming altcoin news. Earlier this year, the major global fiber producer Lenzing announced that it will implement blockchain and bring more transparency to its fiber supply chain, launching a traceabilit platform in 2020 as the company reports showed.
"Founded in 1755, Vacheron Constantin will begin using Blockchain immediately with timepieces in its Les Collectionneurs program. Now each of the vintage watches, which have been patiently tracked down by the maison’s heritage specialists and restored to perfect working order before being sold at special events at their boutiques, will be sold with a paper certificate of authenticity along with an incorruptible digital certificate," the news concluded
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