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Malta to require all rental contracts to be registered on blockchain

“For Rent Sign” by Charleston’s TheDigitel is licensed under CC BY 2.0

Mon, 24 Jun 2019, 05:37 am UTC

The Malta government’s new rent laws will require all property rental contracts to be registered on the blockchain, Malta Today reported, citing the island nation’s Prime Minister Joseph Muscat.

According to the report, the new initiative, which will implement distributed ledger technology (DLT), aims to protect contracts from being tampered with and accessed by unauthorized parties.

We will now be showing people the added value of this technology through applying it to something which they will use in their daily lives,” Muscat said in an interview broadcasted on One Radio on Sunday.

The details of the new proposed rent reform, which was approved by the cabinet after a long consultation, will be announced in the coming days.

As previously reported, the Maltese government has also awarded the first Blockchain and DLT scholarship grants to 19 students who are interested in pursuing studies at Master’s and Ph.D. levels. The initiative was made possible through the memorandum of understanding signed between the Malta Information Technology Agency and the University of Malta.

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