Home News Malta to Develop AI Strategy Following Success as ‘Blockchain Island’

Malta to Develop AI Strategy Following Success as ‘Blockchain Island’

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The Maltese authorities has introduced the formation of a taskforce to develop a nationwide synthetic intelligence (AI) technique, Cointelegraph reviews Tuesday, Nov. 1 from the Malta Blockchain Summit.

The Junior Minister for Financial companies, Digital economic system and Innovation, Silvio Schembri introduced the launch of the governmental initiative “Malta.ai,” stating that Malta is aiming to grow to be a high AI nation. He mentioned that the nation would develop a pleasant regulatory setting for AI a lot in the identical manner as it has achieved for blockchain expertise:

“After successfully positioning Malta as the ‘Blockchain Island,’ by being the first in the world to regulate DLT (distributed ledger technology) products and services, we now would like to position Malta amongst the top 10 countries in the world with an artificial intelligence policy.”

The government has already launched a website for its nationwide AI technique. According to official statements on the Malta Blockchain Summit, AI initiatives shall be monitored by the Malta Digital Innovation Authority — the identical group that screens DLT. The authorities’s targets are:

“…to dialogue with stakeholders, to build awareness of the key topics and issues that will inform a national AI Framework, consult on a policy that considers for ethically aligned, transparent and socially responsible AI, identify regulatory and fiscal measures to strengthen Malta’s appeal as a hub for foreign investment in this sector and identify the underlying skill base and infrastructure needed to support AI.”

Malta.ai will collaborate with SingularityNET, a decentralized market for AI companies, in a pilot undertaking to “explore a citizenship test for robots in the process of drafting new regulation for AI.”

SingularityNET, which is working with famend robotic Sophia constructed by Hong Kong-based Hanson Robotics, has launched its personal AGI token, with a complete market capitalization reaching almost $33 million in accordance to CoinMarketCap.

Malta has gained a fame as a proactive and pleasant jurisdiction for blockchain and crypto-related enterprise. The authorities announced its intention to make the nation a pacesetter in DLT in February of this yr.

In early July, the nation’s Parliament passed three payments setting a transparent regulatory framework and authorized setting for each the crypto and blockchain industries. The nation has since grow to be a well-liked space for crypto-related startups, together with world crypto exchanges like Binance, OKex, and BitPay.

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