Malta Stock Exchange Forms New Blockchain Committee and Think Tank

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The Malta Stock Exchange has formed a Blockchain Committee which includes members of the Exchange’s Board, its Chairman and Chief Executive and outside experts who will assist in the formulation of a strategy geared towards addressing this emerging technology.

The committee will be chaired by Dr. Abdalla Kablan, a Malta Stock Exchange Director, an entrepreneur and academic specializing in machine intelligence, big data, analytics and computational finance. 

The Chairman of the Malta Stock Exchange, Mr. Joseph Portelli said:

“Malta and the MSE are quite fortunate to have at our disposal our country’s preeminent technologist and a globally recognized expert on Blockchain technology. Dr. Kablan has a proven track record within the technology space, evidenced by his latest start-up Hippo Data, the first Maltese company to ever be selected into the London Microsoft Accelerator Program.” This program is an initiative that helps entrepreneurs grow their companies.

Many stock exchanges throughout the world are investigating and identifying applications using Blockchain – a method of recording and confirming transactions where participants hold complete records of transactions through peer to peer verification, without the need for a central clearing house. 

Blockchain has serious potential within the Finance Industry, particularly with regards to record keeping, trade verification and settlement. Back office processes can potentially be revolutionized making the settlement process more instantaneous, productive and cost efficient.

Scotland will soon start a stock exchange called SCOTEX using the latest distributed ledger technology for its clearing process. The company said that Blockchain will allow investors and brokers to receive their money 15 minutes after a trade is executed.

The Australian Stock Exchange is also building a Blockchain as a replacement for its current platform for clearing and settlement of trades. Almost all the major global stock exchanges have begun to explore applications for this exciting technology which, it has been estimated, could save the financial industry over $100 billion annually in back office costs.

Mr. Portelli added:

“…with Dr. Kablan’s expertise and the Malta Stock Exchange’s leadership it is hoped the ground work will be laid for Malta’s and the MSE’s first Blockchain application.”

The Exchange will also soon unveil the Malta Stock Exchange Blockchain Consortium a think tank which will bring together experts from the Exchange’s stakeholders as well as from other organizations throughout Malta to share knowledge and perhaps joint venture on the design and implementation of Blockchain applications.   

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) – Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, “The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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