Honourable Silvio Schembri is an elected Maltese politician and academic currently serving as a Junior Minister for Financial Services, Digital Economy & Innovation within the Maltese Government. Hon Mr. Schembri was born in Luqa, the second child among four siblings. His father John Schembri has occupied the office of Mayor of Luqa since 2001.
Hon. Schembri is an experienced lecturer in Economics with a demonstrated history of working in the higher education industry. He is skilled in political communications, negotiations, sustainable development, political science, and analytical skills. He has a Master of Arts and a Bachelors Degree of Honours focused in Economics from the University of Malta.
At the helm of the Authority is Mr. Stephen McCarthy, appointed as the first CEO of MDIA upon its foundation.
Mr. McCarthy is very well versed in multiple key industries in Malta, from the finance industry to gaming and property, making him a well seasoned and broad minded fit to head the Digital and Innovation framework in Malta.
Essentially, Malta is a melting pot of different cultures, joined together by a forward thinking perspective, supported by a stable and blossoming economy. That is why Malta is considered a frontline player when it comes to welcoming new disruptive innovations, as it is one of the first countries to recognise the need to regulate them in order to provide legal certainty and stability in this technological progress.
Malta has established a new regulatory framework centring around the use of Innovative Technology Arrangements capturing Distributed Ledger Technology (“DLT”) platforms and Blockchain technology, with the primary aim of providing transparency and legal certainty.
The legislation aims to instil peace of mind and certainty, as society places more trust in innovative technology. Furthermore, this regulatory framework positions Malta at the forefront of technological business opportunities, as it creates a sound platform for innovators.
The Malta Digital Innovation Authority (MDIA) is issuing a set of guidance notes aimed at assisting Service Providers and Innovative Technology Arrangements Applicants when approaching the MDIA for registration and certification respectively.
The guidelines reflect clarifications and rationalise some processes which arose from the public consultation as well as in the formulation of the said guidelines. These are expected to be reflected and implemented as required in the ITAS Act.
If you need assistance or guidance, or if you have any questions – we encourage you to get in touch with us.