A partnership has been created between Omnitude and the Maltese Public Transport Service. This news was announced on Thursday 17th May by Transport Minister Ian Borg. Through this blockchain strategy, Omnitude will develop blockchain middleware technology for the Malta Public Transport Service producing a transport and logistics platform. This collaboration will start off by the Government discussing developments and improvements and reliability that need to be addressed together with Omnitude.
At the beginning of the year, the Maltese Government agreed to launch a blockchain strategy. In effect, Malta is set to become one of the first countries to publish a national strategy on blockchain technology.
Although the term is quite new, many do not know what Blockchain is or how it works. In simple words, Blockchain technology is a series of nodes (computers) which process transactions and data using complex cryptography. Data stored in the blockchain is difficult to get lost since every processed transaction cannot be manipulated or changed. Despite the fact that uncertainty in the system is always expressed, many critics believe that blockchain will eventually become a foundation of the next big industrial revolution, reducing costs and efficiency.
Omnitude and Malta’s Transportation System.
Omnitude is a Multi-Enterprise Blockchain Middleware Platform. Recently, it has confirmed that it will provide technology hardware to Formula 1, Williams Martini Racing. The company will measure benefits that blockchain can offer advanced engineering prospects.
In a statement Hon. Borg stated that “We believe in Omnitude’s blockchain technology and its broad use-cases for the Government. We can see its potential in a range of government departments and it will form a cornerstone technology platform as part of our commitment to drive forward innovation. It will improve the quality of life and enhance access to information for Maltese citizens. Blockchain technology is a key part of our overall national technology strategy that will see us transform different sectors.”
Moreover, Chris Painter, Omnitude CEO and Founder declared that “Governments around the world are beginning to see the potential for blockchain to reduce costs and streamline services. Malta has an extremely progressive government and we’re excited about the potential the partnership brings. As a middleware technology, Omnitude’s potential use-cases are vast and we look forward to working with the Maltese Government to explore the capabilities of Omnitude’s broad-based blockchain ecosystem.”
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