Malta and six other European member states have signed a joint declaration, the ‘Declaration of the Southern Mediterranean Countries on Distributed Ledger Technologies’, with the aim of enhancing cooperation in the digital sector.
This declaration, which is the first of its kind, is being spearheaded by Malta, with France, Greece, Italy, Portugal, Spain and Cyprus agreeing to promote and work further within the blockchain sphere.
Through the signing of the declaration, the seven countries have committed themselves to acknowledging the digital sector as the common area of cooperation to enhance economic growth in the region.
They will also explore the possibility of cooperating on cross-border DLT projects, with a potential for this cooperation to be extended to third countries in the Southern Mediterranean basin, and to meet on a regular basis at technical level to ensure that best practices in DLT are shared with each other in the context of the European Blockchain Partnership.
During the same meeting, Malta was confirmed as the host country for next year’s Southern Mediterranean Summit on Digital Economy.
While addressing the member states’ ministers in his opening speech, Parliamentary Secretary Silvio Schembri said that the signing marks an important step forward in the cooperation between countries in the digital sector.
“As Southern Mediterranean countries, we have a lot of untapped potential in the digital sphere. Distributed Ledger Technologies can serve as a great springboard to tap into this potential.”
Mr Schembri said that the declaration will help bolster the work currently being done by the European Blockchain Partnership, which is looking at ways to develop best practices in Europe through a European Blockchain Service Infrastructure.