A Malta businessman has installed the country’s first cryptocurrency ATM. The installation has occurred just days after local media reported that a start-up had launched a crowdfunding campaign to finance the country’s first bitcoin ATM.
Gabriel Cretu Torica,make history by installed the country’s first cryptocurrency ATM. The terminal has been installed outside a store in Sliema and facilitates bitcoin purchases and balances checks via QR codes.
Mr. Torica explain some of the advantages of bitcoin and the speed of cryptocurrency ATMs, telling local media that “online exchanges often ask for ID verification, and that can waste up to 24 hours”. Mr. Torica also believes that the bitcoin ATM will motivate greater adoption of bitcoin in Malta. although Many people are still doubting of bitcoin… I’m sure this will change over time as people realize the benefits”, he said
Malta’s Government Opinion toward cryptocurrency
Malta’s central government previously expressed great interest in adopting bitcoin, with the cabinet of malta approving the first draft for a national method plan to promote cryptocurrency and blockchain technology across the nation during April. Upon the bold discussion , the island still failed basic infrastructure that will allow increased user adoption, as evidenced by the crowdfunding campaign for the nation’s first bitcoin ATM.
Malta’s government has primarily focussed upon attracting cryptocurrency based businesses to register on their shores. Several government agencies participated in a conference hosted by PKF Malta this week that sought to “[bring] together a think tank of professionals representing a cross section of the market ranging from start-up success stories to crowdfunding, blockchain, [and] bitcoin.” The conference featured keynote speakers from Silicon Valley, and an audience predominantly comprised of representatives from Malta’s business and academic sectors.
source https://news.bitcoin.com/malta-entrepreneur-installs-nations-first-cryptocurrency-atm/
