David Galea – CEO at BEAT Group

With over twenty years of international advisory experience with one of the Big Four Firms, the Office of the Prime minister of Malta, The Prime Minister’s Office of Dubai and the Secretariat of the President of Abu Dhabi, David Galea is currently dedicated to providing support to the technology startups and helping already existing companies with the implementation of the FinTech solutions.

In the last few months (not even years!), many companies have identified the need to implement technologies such as blockchain, AI and IoT within their businesses. Unfortunately, the process is not as easy and simple as anyone would think.

To achieve satisfactory results, companies have to start from the very beginning by identifying the priorities and current level of technological advancement. Only after this stage the can progress and implement the technology.

BEAT Group is one a few companies that address that problem by helping startups with establishing the presence in important FinTech-regulated hubs such as Malta, Switzerland, Cyprus, and Gibraltar.

In addition to that, BEAT Group has applied for the VFA agent status which would enable them to work with companies looking for alternative ways of financing, such as ICOs, Angel Investment, Venture Capital Financing, Horizon 2020 and National Funding.

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The Difference Between Working With Startups and Already Established Companies

While the difference seems obvious, only recently, businesses have started flirting with the idea of incorporating FinTech, media, and technology with an enterprise. Bringing the same an array of issues never mentioned before. Startups require assistance with the setup and introducing structure, while the latter search for advisory with improving inefficient processes.

BEAT Group is positioned between two different sets of clients who will eventually merge and interact with each other. We can think about us as an intermediary between very innovative and organic startup and already established, mature (and sometimes archaic) company which is looking for a high tech solution.

Both types of companies have quite a big choice of technologies to use, and blockchain is just the tip of the iceberg – with artificial intelligence, internet of things, 3D printing, virtual and augmented reality, the development of business processes and changing the way it works might look simple and easy.

Of course, introducing different technologies (such as blockchain) brings total restructuring to the company. For example, DLT would change the whole decision-making process. Instead of a situation when only management is allowed to approve the supply chain decisions, the blockchain based system needs the entire team to be trained and empowered within the process.

The magnitude of new technology-based solutions have opened the doors to innovation and progress, but if not applied correctly, they can cause more damage than good.

More about BEAT Group

BEAT Group is a niche specialist focusing in the provision of advisory and corporate services to Technology Start-Up and established players in the Fintech, Media, Gaming, Entertainment, and Technology Industries. Discover more at new.beatconsult.com.

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Remi studied computer science which is always looking for an improved solution to society's demands, and cryptocurrency happens to be one of them. He joined the BiteMyCoin team in March 2018 and since has become engulfed in this new technology that can break the oligopoly of financial institutions.