Blockchain and Distributed Ledger Technology (DLT) are becoming more widespread internationally and as the public are becoming better informed, banks and governments are preparing themselves for a future where this sort of technology could possibly change the way people conduct business.
As people are being more restricted in the way they do business, they have found new ways to do so. Governments have taken notice and are beginning to look into the regulating of Blockchain and DLT.
To gain a better understanding of the impact DLT and Blockchain could have, we’ve met with Jesmond Mizzi, the Managing Director of Jesmond Mizzi Financial Advisors Limited who has been involved in the financial serviced industry for the past 16 years. Jesmond Mizzi is a business columnist on a number of papers for The Times and is a weekly guest on two television financial programs.
With extensive knowledge and experience in the financial sector, Jesmond Mizzi believes that Blockchain and DLT are here to stay and he takes it one step further by saying that this will, in fact, create a new economy.
In the interview we held with Jesmond Mizzi, he tells us about the importance of regulating the DLT and Blockchain, how he thinks the Financial Industry will react to adopting Blockchain, and the benefits regulation could have on Malta and the economy.
The Implications of Blockchain and DLT Regulations
Something worth taking note in this interview is the importance Mizzi gives to the importance to institutions, regulators, and financial providers that there is the right legal framework to work in these new areas of business. Mizzi believes that all it will take is one entity to come out with something and they will receive the benefits.
“I think it’s a fact that every company whether it’s in the financial services, trade, and other areas of business are studying and looking at new ways and probably as soon as the first big bank comes out with something, then they’re going to be first in taking the advantages of what all this is going to bring about.”
We know that regulations and frameworks are being worked on and research is being done to ensure that this goes as smoothly as possible. As Mizzi rightly says in our interview, Malta must be open to opportunities and different ways of doing business.
More about Jesmond Mizzi Financial Advisors
Jesmond Mizzi Financial Advisors falls under Atlas Group and provides wealth management services for the different criteria of both private and institutional clients. The company was set up in 2002, issued with a Category 2 Investment Services license by the Malta Financial Services Authority.