With the legal and regulatory framework applicable to crypto-currencies, initial coin offerings (ICOs) and blockchain technology in place, Malta is fast becoming the leader in this innovative sector. There is a strong momentum to radically and rapidly change the way we live and operate our businesses, thereby aligning businesses with the challenges and opportunities of Distributed Ledger Technology (DLT) legislation.
Spurred by these changes, and its remit to educate and address issues that affect the financial services industry, FinanceMalta, in collaboration with the Malta Blockchain Association, is organising a series of events consisting of informal breakfast briefings run under the Chatham House Rule to encourage dialogue by all professions about issues arising from any aspect of DLT.
The next BlockFinance seminar in the series will be held on Tuesday, December 4 at Corinthia Palace Hotel, Attard, and will focus on clearing and settlement. The conference will be chaired and moderated by Patrick Young, chairman of the Malta Blockchain Association.
The seminars aim to educate and explain the developments in this area pertaining to specific industry sectors. The briefings are targeted at individuals and sectors seeking to explore how they can introduce blockchain in their business operations. Through these BlockFinance seminars, FinanceMalta aims to help delegates understand the concept of blockchain and provide general guidelines as to how to go about applying it to different sectors.
FinanceMalta chairman Kenneth Farrugia said: “Given the popularity and the feedback we are getting, these seminars go a long way towards helping our members to harness the opportunities of the ever-changing financial services industry. As DLT continues to disrupt the business world, we are doing our utmost to provide a forum of discussion where our members and industry specialist can share their experience and how to tap into this technology.”
The seminar will kick off at 8.15am with registration and breakfast, followed by a welcome address by Mr Farrugia. Mr Young will then discuss the impact on all transactions as the changing space of clearing and settlement from asset management through banking and capital markets to insurance and securitisation. A panel discussion on clearing, settlement and smart contracts with the participation of Terence Cassar from GTG Advocates, Nicholas Curmi from Ganado Advocates and Luciano Brincat, an analyst at the MFSA, will follow.
The second part of the seminar will start with a presentation by Godwin Schembri from KnowMeNow, who will focus on the use of DLT technology for know-your-client (KYC) and anti-money laundering (AML) purposes. This will be followed by a panel discussion on the impact of DLT on traditional ‘plumbing’, with the participation of Herman Ciappara from the Central Bank of Malta, Simon Zammit, CEO at the Malta Stock Exchange and Jovan Gavrilovic, general manager at OKE.
The seminar, which is sponsored by KnowMeNow, will come to an end with closing remarks from Mr Young. Registrations can be made online at www.financemalta.org.