President further endorses blockchain’s social capabilities

Photo: OPR

H.E. The President of Malta Marie-Louise Coleiro Preca excitedly spoke of the potential for blockchain to make a difference in terms of social good. She said that “the relationship, which has been created between the President’s Trust and the Blockchain Charity Foundation, is truly ground-breaking.”

This was said during a UNGA side-event organised by the Blockchain Charity Foundation, Women Political Leaders Global Forum, and the Finance Centre for South-South Cooperation – Blockchain for Social Good: Utilising Blockchain to aid Economic Development. The President also spoke of potential coming to fruition with the recent Memorandum of Understanding signed between The President’s Trust and the Blockchain Charity Foundation.

This relationship between the two entities is currently setting the agenda for innovation and development to aid NGOs, the President added. Namely via due to blockchain’s transparency, accountability, reduced transaction costs, trust-building, and integrating the physical and the digital. Stasis, a cryptocurrency company, has also collected funds in aid of the Malta Community Chest Fund for a new Serenity Garden for oncology patients.

Photo: OPR

The future shift toward cryptocurrency had the President speaking of the potential evolution of the businesses through new technology. This puts trust and solidarity “at the core of our socio-economic interactions, thereby boosting transparency and emphasising the importance of an economy and a society which is built upon trust.” The Foundation shall also work towards implementing the UN Agenda 2030 and its seventeen Sustainable Development Goals

President Coleiro Preca ended with her belief that blockchain can be used to totally change the way charity organisations are created and regulated in the future. “This is what real justice and effective social solidarity is all about,” the President concluded.