Blockchain Use Cases

The government of Malta plans to use the blockchain in the child adoption process. According to the government, it will eliminate bureaucratic red tape and speed up the adoption process. Child adoption is now being added to many other evolving blockchain use cases.    

New Blockchain Use Cases 

The blockchain has found its way into numerous industries since its launch in 2009 as a way to secure Bitcoin transactions. It is a convenient method of securing agreements, transactions, and contracts. Outside of Bitcoin, Blockchain is already penetrating various industries such as asset management, capital markets, DeFi, supply chain, real estate, and many others. 

Its use in child adoption is a new use case for blockchain technology. The government of Malta will use the technology to digitize the adoption process according to a local news report. Today, the adoption process in Malta is tedious and involves numerous documents and complex processes.

By using the blockchain, the government aims to make the process simpler and more secure. It will also help to reduce the risk of errors occurring during the process. A major area of concern for the government is that a huge portion of the process depends on documents being mailed to the recipients.  

Safeguarding the Interests of Children

The Family Minister of Malta, Michael Falzon together with Clayton Bartolo, the Digital Economy Parliamentary Secretary, said that by using the blockchain, the government would safeguard children’s interests.

Falzon said that the use of the blockchain was a significant development for children and their adoptive families. He noted that the COVID19 pandemic had slowed down the number of adoptions in the country. The Family Minister noted that the Child Protection Act, which came into force in July 2020, would enable the faster adoption of children. Previously, these children would have had to remain in foster care for five years or more. With the new act, the period was brought down to just two years.

Falzon said that it was his wish that the recent changes would cause local adoptions to start being explored. He noted that 480 children currently did not live with their birth parents or were under a care order in Malta.

Commenting on the issue Secretary Clayton Bartolo said that using the blockchain in the child adoption process complemented the digital Malta vision of the government. He noted that it would simplify the adoption process, improve security, and lead to better peace of mind.

 Malta and Blockchain Technology

Malta is today known as one of the premier locations for the blockchain industry. Various major players in the crypto sector such as the Binance exchange and OKEx have their headquarters on the island nation. The nation has created favorable legislation to support the budding blockchain sector.

Within crypto circles, Malta is often called Blockchain Island due to its friendly stance towards the blockchain sector. The country was one of the first countries in the world to pass laws favorable to the crypto sector. Its parliament passed three laws on July 14, 2019. These laws are:

Malta Digital Innovation Authority Act

Innovative Technology Arrangement and Services Act

Virtual Financial Assets Act

The three laws comprehensively cover all aspects of crypto and blockchain technology. Malta is a shining beacon for the rest of the world on how proper regulation can allow a nation to reap the benefits of crypto and blockchain technology.

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