The Architect of Malta's 'Blockchain Island' Initiative Says Fourth Blockchain Bill Will Foster Innovation

Prominent blockchain strategist and advisor Steve Tendon has spent years trying to close the gap between regulators and developers in the blockchain space.

More recently, he has taken on a more direct role as the first Chairman of the Blockchain Malta Association.

Widely considered the architect of what is now known as the 'Blockchain Island' initiative, Tendon is trying to transform the island nation of Malta into a hub for blockchain innovation, investment, and business.

While interacting with blockchain PR firms, entrepreneurs, and developers at the Malta Blockchain Summit he told EAK TV about the latest regulation the Maltese government is considering.

This new piece of legislation - the fourth Bill regulating the use of blockchain on the island - could give legal personality to decentralized autonomous organizations, smart contracts, and blockchains.

This would be the fourth bill the Maltese government considers that paves the way for a more regulated blockchain industry.

"Lawyers are very upset that a piece of software would have legal personality. While developers think the technology should not be regulated."

Tendon believes this is why developers need laws to protect them while they experiment and innovate.

Currently known as the Innovative Technology Foundation, it allows the building up of a patrimony which can be used in case of legal liability.

Protecting developers from legal liability is a cornerstone of the government's plan to transform Malta into the 'Blockchain Island' within the next few years.