*Prime Minister’s remarks at the new technologies session at the International Conference of Data Protection and Privacy Commissioners:

First of all, I hope that all of those attending this event have had the opportunity to discover the city and therefore develop an idea about Albania, which always much better than one can expect to find here. Now I am really happy to participate in this event because of the very important topic that is supposed to be discussed.

At the same time, I would like to announce for all of the people here and all of those who are watching us on TV screens, the government of Albania opened today a public consultation on a new draft law on the financial markets based on Blockchain technology, which, I think, is a very courageous step undertaken by Albania thanks also to the very thorough work done by a very respected group of people.

I am not here to talk to many of you about the Blockchain technology solutions, because I am just an artist and I am not a technology person, but I don’t think you should necessarily be a scientist or a technology geek to figure out that Blockchain has made it possible for the first time in history of humanity to carry out transactions and interactions without casting any kind of doubt between two sides and without the need for a third party or an intermediary. So, basically this is an incredible step towards strengthening trust and credibility based on communication without no longer having the need for an intermediary entity or broker.

For many people, and for me too at the very beginning when I was initially informed and I started to make my homework about the Blockchain, I soon realized this technology is simply connected with cryptocurrency- based operations, but indeed it is a much larger instrument than that. And it is clear that through the Blockchain technology, in a near future we will have the opportunity to make much more efficient our own systems and make them much more secure in terms of, for example, property. Undoubtedly, a country like ours, Albania can offer a lot due also to the fact that Blockchain can guarantee a much more efficient way for remittances to substantially cut all related cost and by increasing substantially the speed of the transactions. We are having already an experience in the course of the activity of our doctors, health care personnel and the overall health system and the individuals working in the national health care system and we are seeing that this technology is already yielding its initial encouraging results, because thanks to it no one can escape from accomplishing what is his or her duty.

In that regard, I would very much like to express my gratitude to the company that is based elsewhere, yet it has its subsidiary operating in Albania and is already providing this kind of services to our health care system with great results. It is an Italian company that is getting better results in Albania than it used to achieve in Italy. It provides exactly the same service, but it seems we are not as good as Italians to escape regulations.

At the same time, as I am struggling not to be boring and lengthy and by wishing to leave more room for other people in the panel, who certainly are much more informed than me, I want to simply say that by putting this new piece of legislation for public consultation, we are aiming to open up also for the use of cryptocurrency, but in a completely regulated framework, something that, let’s say it, no one else has done it yet.

The opportunities this technology offers are unlimited and one of this opportunities is that countries, which in many aspects lag far behind than other more developed countries, may make an incredible jump ahead, simply by harnessing technology. So, it is no longer the case when you had to wait for years long in order for the typing machine to be replaced by the fax machine, but now it just takes the right ideas, willingness and people to do it.

I don’t think there is a better place than this occasion offered by this conference to talk about it primarily and in my capacity as Prime Minister to also express on behalf of my government the conviction that by launching this public consultation process on a very innovative legislation piece we have opened up new way of opportunities for our country’s development.

Thank you very much again!

*Simultaneous interpretation