The Maltese Government Approved 3 Cryptocurrency Bills
Another country moves forward into the global cryptocurrency markets.
The Maltese Parliament yesterday voted unanimously to approve three cryptocurrency and blockchain bills. These bills that are designed to make Malta one of the most important and desirable locations in the blockchain space should now facilitate the setting up of further companies in this sector.
In a tweet shortly after the vote, Parliamentary Secretary for Digital Innovation Silvio Schembri said that he was honored to have spearheaded the legislation through Parliament and also expressed thanks to all those who had collaborated on the project. He also announced that Mr Stephen McCarthy will be the new CEO of the Malta Digital Innovation Authority.
Today Maltese Parliament unanimously approved 3 bills on DLT/blockchain, a 1st in the World. Honored to have driven these bills. Announced that Mr Stephen McCarthy will be the CEO of the new #Malta Digital Innovation Authority. #BlockchainIsland -SS
— Silvio Schembri (@SilvioSchembri) June 26, 2018
Junior Minister Delighted to Spearhead the Process
Speaking to CCN, the junior minister also expressed optimism on the way that these new bills will allow the crypto and blockchain sector to flourish.
CCN also spoke to Dr. Joseph F Borg, a partner at WH Advocates and solicitors ad founder of Bitmalta on these important developments:
“Today is a historic day for blockchain and cryptocurrency enthusiasts, professionals and entrepreneurs in Malta. It is the first step to make Malta the jurisdiction of choice for blockchain businesses. The fact that parliament unanimously voted in favour of the three bills is crucial for the stability of the sector and for...
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Experimental Voting Effort Aims to Break Ethereum Governance Gridlock
When people think of ethereum, they generally think also of the protocol's developer Vitalik Buterin, now - off his creation - a multi-millionaire.
No doubt, Buterin is a leader of sorts for the community, even if decision-making is somewhat decentralized. And above that, ethereum's most active developers have a significant amount of say in the direction of the technology.
Recently, however, the protocol's decision-making has been called into question as a series of controversial proposals have arisen - be it the development of new forms of mining hardware or the recovery of lost funds due to various vulnerabilities.
As the community debates the various pros and cons of such proposals, Buterin has begun working with economics researcher Dr. Glen Weyl to experiment with the idea of enabling a new kind of voting for the ethereum users. In a blog post announcing the collaboration on May 21, Buterin described how ideas from Weyl's recent book, "Radical Markets," could help address these governance challenges and coordinate solutions for contentious issues.
Speaking to CoinDesk, Weyl, who received a Ph.D. in economics at Princeton University and is now a researcher at Microsoft, explained that quadratic voting aims to focus voters on issues they are passionate about and educated on. Rather than votes being distributed equally across participants, users can purchase extra votes to have a greater say in certain issues.
"The idea is it allows people to express how important things are to them, and not just which direction they feel about it," Weyl said.
The collaboration comes at a time when other ethereum researchers have banded together in an effort to come up with ways to better measure community sentiment.
And although Buterin wasn't directly involved in those meetings, in the blog post, he noted his belief that existing proposals for decentralized decision-making either put too much authority into the hands of those who own ether or, in trying to reach a larger pool of stakeholders, are vulnerable to attack by fake accounts and malicious actors trying to sway the vote.
As such, Buterin and Weyl write, the quadratic voting proposal is a more "moderate alternative" to other forms of decentralized governance.
Weyl told CoinDesk:
"[Quadratic voting] allows for decisions to be made for the greatest number of people."
Connecting communities
The duo's post on the matter seems aligned with an announcement made earlier this month by Virgil Griffith from the Ethereum Foundation, the not-for-profit that funds ethereum-related research, that it was seeking applications for projects wanting to test experiments based on Weyl's theories.
Prior to fully fledged announcements, however, Buterin and Weyl's blog post hints at ways the method could occur.
"Citizens can use a (possibly artificial) currency to buy votes at the cost of the square of the votes bought on...