Malta to put property rental contracts on Blockchain

Malta to put property rental contracts on Blockchain

In a recent report in Malta Today publication it was announced that Joseph Muscat, PrimeMinister in an interview announced that every rental property contract in Malta will be registered on the blockchain. According to Prime Minister, “the law will be announced in upcoming days and will require that all rent contracts in Malta be registered, preventing the possibility of there being contracts in place for which there is no record.  By being registered using distributed ledger technologies, the contracts will be protected against tampering and only those authorized will have access to them.”

The system will be using DLT technology. He added, “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. Such a contract cannot be tampered with and only those authorized will be able to access it. This shows how the digital transformation will affect their lives.”

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