RIDING THE INNOVATION WAVE

BLOCK MAGAZINE SITS DOWN WITH DR. IAN GAUCI AND DR. ABDALLA KABLAN, PARTNERS AT

WHO ARE IAN GAUCI AND ABDALLA KABLAN, AND THE OUTFITS BEHIND THEM?

Dr Ian Gauci is a leading technology lawyer. He has co-founded GTG Advocates, Afilexion, MITLA and BMA and most recently Caledo. Throughout his career, Dr Gauci has provided legal, regulatory and strategic advice to various businesses in local and cross-border negotiations, mediations and arbitrations.

Dr Gauci also assisted the government and several other government agencies, including the Malta Gaming Authority, Malta Financial Services Authority, Malta Digital Innovation Authority and Malta Communications Authority on various issues ranging from E-Commerce and E-Trust certifications, fintech, digital financial assets, technology arrangements and data protection. Dr Gauci also lectures on topics related to A.I., DLT and Digital Economy, Legal Futures and Technology Law at the University of Malta.

Dr Abdalla Kablan is a serial entrepreneur and award-winning fintech expert. He specialises in complex financial systems through the use of artificial intelligence and machine learning. Throughout his life, he has founded several start-ups in the field, is an Alumni of Microsoft Ventures London, has worked on projects which were featured at the World Economic Forum and has featured as a guest speaker at the United Nations. He currently sits as a partner and co-founder at Wyzer and DELTA Summit. Dr Kablan also lectures on topics related to computational intelligence, financial engineering and financial data science at the University of Malta.

The rapid rise of digital assets and the digital economy led Dr Gauci and Dr Kablan to the realisation that technology and the law can no longer be viewed in isolation from each other but a more holistic view was needed in order to ensure that one field does not stifle the other. This realisation led to the birth of Caledo. Caledo is a joint venture between Wyzer, GTG Advocates and Afilexion Alliance with the aim of offering holistic services to clients whose businesses revolve around the digital economy.

WHAT HAS HELPED CALEDO STAND OUT FROM THE CROWD IN SUCH A COMPETITIVE INDUSTRY?

Caledo is a unique outfit which has the capabilities to offer technical, legal, regulatory and business consultancy services under the same roof. Caledo speaks all languages - be it smart contracts, regulations, company formations, any form of legal or technical advice, marketing strategies and business consultancy. Through this approach, we are committed to treating our clients as our partners by assisting them in every step of the way.

WHAT ARE YOUR VIEWS ON THE INNOVATION, BLOCKCHAIN AND DIGITAL ECONOMY?

Innovation is an enabler to emancipation. It is not a linear process but involves multiple inputs emanating from emerging technological developments, like we are experiencing in A.I., IoT, and blockchain which will soon be embedded together in a perfect symbiosis. This enabler is powering society’s entry into the Digital Economy dominion where we anticipate a paradigm shift in life as we know it today.

HOW IS CALEDO, THROUGH ITS SERVICES, AN INCEPTOR AND FACILITATOR FOR INNOVATION AND HOW DOES IT ENSURE INNOVATION IS NOT STIFLED BY REGULATION?

Caledo’s ideology is reflective of the anticipated wave of innovation in the Digital Economy. Aside from sharing this vision and advising corporate clients and consumers, we also work closely and advise institutions, governments and authorities on policy and regulation based on sound yet proportionate principles that embrace the full potential of Digital Economy.

MALTA’S INVESTMENT IN INNOVATION AND EMERGING TECHNOLOGIES HAS ATTRACTED SEVERAL BIG NAMES TO THE ISLAND, HOW CAN IT ENSURE ITS INFRASTRUCTURE CAN SUPPORT AND SUSTAIN THIS INFLUX OF BUSINESS?

Malta has consistently encouraged innovation. Decoupling economic and social development from all environmental pressures and consumption of resources is a continuous challenge in Malta, as in many countries. It requires a paradigm shift in our approach to future development. Malta’s Sustainable Development Vision for 2050 is grounded in these principles and is designed to lead us on this desired development path.

MALTA SUCCESSFULLY LAUNCHED THREE KEY PIECES OF DLT REGULATION LAST NOVEMBER, WHAT’S THE NEXT STEP FOR REGULATION IN YOUR EYES?

Through our soft sand box approach we are learning more from the industry and finalising the rules and licensing regimes to fine-tune our regime in a robust yet proportionate manner. Once the licences are rolled out we need to find our feet and take stock of the market and developments around us to make sure we always strike the right balance when regulating as well as to foster technological innovation through fintech and regtech.

HOW SHOULD CONCERNS OVER BLOCKCHAIN PRIVACY BE BALANCED WITH USERS DIGITAL IDENTITIES?

There are many misconceptions about privacy in the context of the blockchain ecosystem. There are several configurations of a DLT that can be tailored to cater for the needs of different systems. We are now seeing a new wave of permissioned blockchains in which actors on a ledger are clearly identified and permissioned.

Decentralised digital identities are core to this and probably one of the most exciting applications of blockchain technology which has the potential to transform the manner in which our personal data is handled and further propel the sovereignty of the data subject in a legitimate and proportionate manner.