Insights

FinanceMalta invited Dr Max Ganado, Partner at GANADO Advocates, to participate at their latest educational clinic about Blockchain Technologies. The educational clinic, entitled ‘The Blockchain Disruption’, was held at the MFSA on the 28th of March and aimed to address why Blockchain Technologies cannot be ignored in today’s day and age, particularly in view of their global economic, social and political influences on both the private and public sector.

Together with other professionals within the financial services sector, Dr Ganado participated in a panel discussion that raised different perspectives and insights about the concept of Blockchain.

The panel was moderated by Mr Steve Tendon from Tameflow Consulting, an expert on Blockchain Technology and its uses. Before the panel discussion, Mr Tendon provided a historic overview of the development of Blockchain, drawing parallels with similar distributed systems utilised over the years.

Dr Ganado outlined the challenges Blockchain posed for the current legal system and pointed out some of the legislative strategies the Government of Malta can adopt for Malta to play a part in this new, exciting development.

Emphasising the urgent need for legal certainty in this sector all around the world, he explained how a law establishing defined contact points with Malta for Maltese law to apply to transactions on a Blockchain, including the establishment of a legal organisation for example, would be attractive for start-ups and others who want to form part of this revolution. It would take Malta beyond its physical limitations and allow it to gain relevance globally through the Blockchain.