In a week when the discussion around the subject of Blockchain could have been dominated by the world’s first and probably only, Blockchain-based toothbrush by Shenzhen-based 32Teeth, the headlines were undoubtedly dominated by Malta. Because of significant support from the Maltese Government, the Malta Digital Innovation Authority and MITA, this small, yet strategically placed Island which sits comfortably in the Mediterranean between Italy and the coast of Africa is rapidly developing and securing a reputation of becoming Blockchain Island. The vision and strategy for the Blockchain Island initiative was created by none other Steve Tendon, who also founded the My Blockchain Island Club. The hard work has evidently paid off. The desire, the will and the commitment from authorities, regulators, established businesses, entrepreneurs and investors from across the international Blockchain and Cryptocurrency sector, to see this vision become a reality, was immensely visible at last week’s largest global event thus far, the Delta Summit 2018.
Setting the Scene – The Opening Gambit
The summit was opened by the engaging; often controversial and occasionally, arch protagonist and Devil’s advocate Theo Priestly. As an established and well respected futurist and technology evangelist, Theo was an ideal host for the event. It was a quick and robust opening gambit as Theo trademarked the term ‘Block-quake’ in the first few minutes to underline the potential volatility with the liquidity, fiscal and regulatory side of the sector. Promising to leave “no block unturned” during 2 days of speakers, panel discussions and presentations, Theo set the scene accurately for this remarkable event. Originally the organisers anticipated up to 1,500 attendees would make the event a success. Their expectations were far exceeded as over 4,000 people attended. The willingness by attendees to contribute and participate throughout was superb and especially evident through the ability to ask questions via apps such www.sli.do . It was indeed a stunning vote of confidence in the Island’s aspirations. Throughout the event I met delegates, exhibitors and speakers from as far afield as South Africa, the USA, Hong Kong, China, Sweden and even Australia. The Delta Summit was truly an international event and an unequivocal success.
Cynicism Over-ruled
For me, this event was about undertaking a huge learning curve. Professionally I’d watched with reserved cynicism over the last few years and like most of the general populace around the world had the misconceived idea that this whole thing was merely some kind of .com bubble reminiscent of the 90’s and/or a get rich quick scheme. It’s safe to say that I still have some reservations but nowhere near as many as I did. Was the reference to a ‘Block-quake’ a suggestion perhaps, that this industry like the advent of the internet and .com needs to be shaken up a lot? Are there questions about the availability of the necessary regulatory infrastructure and access to the talent and resources necessary, to really fly something, that in tandem with Artificial Intelligence, IOT and Big Data could change the World? Undoubtedly there are. But, is there a will to create, innovate and develop solutions that could make people’s lives better, certainly. Whether you listen, as I did, to the captivating Natalie Smolenski, a real life and respected cultural Anthropologist, who now works with Learning Machine or the inimitable Dr Hermann Hauser, you are left in no doubt that this is a disruptive technology that can and will change the world for the better.
Malta Lead by Example
Just over a year ago, the Ministry of Education and Employment in Malta:
“signed an agreement with Learning Machine Technologies to launch the first nation-state pilot of Blockchain credentials. Under the agreement, Maltese learners and workers can securely store all their records of lifelong learning in one place, prove that they own them, and share them with anyone in the world for free. “
It’s a bold move and one that clearly demonstrates Malta’s commitment to this kind of technology. As Natalie Smolenski explained the concept of Blockchain is a simple evolution of the tenets of trust mechanisms that the human species have developed over millennia from Micronesian Fei stones which represent the earliest use of a distributed ledger technology (DLT) to today’s Bitcoin. There are also significant potential applications on the same premise to meet the need for systems of records and identity that “can withstand war, economic collapse, and climate catastrophes — before they happen.” Something that would have made the crisis in Syria and the ensuing refugee situation significantly easier for many of those caught up in the whole situation, both refugees and the nations where they now reside.
Eye Opening in Every Sense
It was without a doubt an eye opening conference and summit. Outstanding contributions from a broad range of speakers ensured that it was enlightening, engaging and addressed significant issues. One area in which there was universal agreement was that the lack of transparency that the complicated terminology and language has engendered has led to a misunderstanding and even mistrust, which is evident in the wider populace. The people that this technology can ultimately aid, the ways in which the right application with the appropriate security and regulation can change people’s lives across healthcare, academia, safety and similar would be welcomed and even warmly received across a far greater audience if the language was simplified and made far more accessible.
Friday morning at the event was opened with an engaging panel discussion on Blockchain, AI and The Future of Healthcare. Neil Patel, Founder and CEO of Kabuni spoke engagingly about the advent of 3D printing of prosthesis to using IOT/DLT to enable a localised/in-home printer to produce a unique vitamin pill based upon the individuals specific needs at that time. Neil also predicts a not too distant future that could see us growing actual replacement organs in labs combining the capabilities of all the technologies under discussion.
It’s a bright new world, a world in which, as proposed by the eminent Cambridge technology community entrepreneur, innovator and Co-founder of Amadeus Capital Partners, Hermann Hausman, we should treat AI as though it is a new species, maybe even a super species. The potential is huge, I actually suspect that we haven’t even begun to truly understand just how huge. At least I haven’t and I’m not alone. Maybe this is where some real work needs to be done, to soften the dialogue and as we make the technology more accessible, make the language that comes with it more understandable to the lay person.
Looking forward, there is another event taking place on the 1st and 2nd of November organized by Sigma and simply titled the Malta Blockchain Summit. We look forward to seeing you and Sophia, there and continuing this amazing journey together.
Darren Ledger and Fran Moisa work for the combined businesses of iGaming Elite and NichollsMoisa respectively. Both organisations are developing through various professional development and learning facilities, specialist multi-disciplinary teams within the recruitment, executive search and talent consulting sectors. These are designed to partner with fast growing, innovative players within the Blockchain, Cryptocurrency and associated tech sectors. We are fellow disrupters, just like you. We embrace and actively encourage innovation in everything we do.
For a fresh approach and candid consultation about how can help you source that specialist talent at C-suite level, build those critical teams and enable you to grow in-line with your vision, contact Fran Moisa or myself directly:
Fran Moisa – fran@nichollsmoisa.com – +356 99 395315
Darren Ledger – darren@igamingelite.com – +356 99 137727