Medical Cannabiz World Summit keynotes and panel debates discussed topics such as regulation in different territories around the world and patient charters to ensure best practice in healthcare when prescribing medical cannabis.

“The quality of medical cannabis preparations is of primary concern and advances in chemistry and tech as well as in-depth study of endocannabinoid systems are mitigating some of the challenges in the field, including standardisation concerns,” said Maltese MP Deo Debattista during the first day of the event.

“Regulation of cannabis for medicinal and research purposes in Malta follows a route comparable to that implemented for the pharmaceutical industry and controlled medicines,” the MP added.

“Everyone is talking about cannabis regulation, but what will the industry look like post-regulation? One thing is clear: the big whales will enter and dominate,” said CMTREX Founder-CEO Saul Singer in a different speech.

Malta Enterprise’s Marion Zammit said that “the process for obtaining a licence has been kept clear and transparent and the evaluation process is rigorous and scrutinous.”

CannaKids CEO Tracy Ryan said the pursuit of medical cannabis as a treatment for her daughter had played a huge role in what she calls a miracle story. “The doctors said we cannot explain what we are seeing, we would like to give the credit to medical cannabis,” she described.

While medical cannabis is gaining ground internationally, Europe has traditionally been seen as a slow-adopter: in some countries talking about cannabis is still stigmatised. “We are living in a schizophrenic situation where the industry in medical cannabis is growing very fast, while in Europe, research in cannabinoids has really been slowed down by stigma,” said Professor of Psychology at the University of Malta Giuseppe di Giovanni.

As part of Malta Week, the AIBC Summit Malta is taking place on 7-8 November, exploring emerging technologies such as distributed ledger technologies (DLT) and artificial intelligence (AI) to provide unique solutions to any industry.

“We made it our intention to be at the forefront of this exciting new success story for medical cannabis and to create an environment where deals can be made and the global industry can flourish,” said Eman Pulis, Founder and CEO of organiser SiGMA Group.

“We are proud to play an integral role, planting the seeds of growth for so many diverse contributors to the medical cannabis sector. We’re not just part of the conversation—we’re starting the conversation,” he added.

SiGMA Group is now taking the medical cannabis expo to South East Asia in June 2020. The event will be closely linked to SiGMA Group’s sister show—AIBC Summit—bringing blockchain and medical cannabis together, as well as bridging continents between east and west.

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The event featured a panel of FinanceMalta members sharing their views and Malta’s strategy in this area. FinanceMalta is a non-profit public-private initiative that was set up to promote Malta as an international business and financial centre within in and out of Malta.

FinanceMalta says it played a “prominent role” at the summit by hosting the two-day event’s first panel discussion: “Putting DLT and Legal on the same page”. FinanceMalta also had an exhibition stand throughout the summit.

“We are proud to have played an important role in this event in Amsterdam. Throughout the year, FinanceMalta promotes Malta’s thought-leadership and experience in various financial services forums, including the areas of Fintech and Blockchain. Through such FinanceMalta-sponsored events, our members can gain exposure, share their views and connect effectively with other players from all around the world,” said Ivan Grech, Chief Operations Officer of FinanceMalta.

“It was an informative panel session about bringing together DLT and Legal on the same page, whilst focusing on Malta as a jurisdiction for such innovation,” he added.

FinanceMalta works on bringing together and harnessing the resources of the industry and government to ensure Malta maintains a modern and effective legal, regulatory and fiscal framework in which the “financial services sector can continue to grow and prosper”.

The FinanceMalta panel speakers were Ian Gauci, Managing Partner at Caleda, GTG Advocates & Afilexion Alliace; Diane Bugeja, Senior Associate at Camilleri Preziosi Advocates; Nicholas Warren, Head of Regulatory at Francis J. Vassallo & Associates; and Joseph Woods, Co-Founder and Creative Director of Creolabs Ltd, who moderated the panel.

FinanceMalta founding associations: the Malta Funds Industry Association, the College of Stockbroking Firms, the Malta Bankers’ Association, the Malta Insurance Association, the Association of Insurance Brokers, the Institute of Financial Services Practitioners, and the Malta Insurance Management Association.

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The show brought together key players from the sectors of artificial intelligence (AI), blockchain, cryptocurrencies, and other emerging technologies to discuss and shape the future.

Prime Minister of Malta Joseph Muscat said in his keynote speech that emerging technologies should not be feared but rather embraced and utilised for offering a better life. He also said his government will keep supporting these verticals.

“The results have been overwhelming. We are staying a step ahead, helping the government bring all these great minds to Malta, fueling the Maltese economy by supporting the tech ecosystem,” commented Eman Pulis, Founder of Malta A.I. & Blockchain Summit and CEO of SiGMA Group. “There are plenty of incentives for A.I. and blockchain companies to relocate to Malta, so what better forum than a summit like this to bring everyone together. I think it is safe to assume that it is the largest show in its category worldwide so far this year.”

The list of VIP speakers included Brock Pierce, Ben Goertzel, Larry Sanger, Patrick Chang, and Noel Sharkey, all sharing valuable insights and enriching the audience in the process. Moreover, keynotes from industry giants Noel Sharkey and Bobby Lee had a fundamental meaning for the audience, with Bobby Lee emphatic on bitcoin’s staying power, saying he believed it would eventually go up to a million dollars, as the press release says.

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The summit provided insight into various initiatives and projects undertaken by Maltese research and businesses, as well as the innovation support available through Malta Enterprise and the Malta Council for Science and Technology (MCAST). It also touched on R&D and innovation-related progress at the Malta Life Sciences Park, Trade Malta, and the University of Malta, according to the press statement

The representatives from Malta Enterprise and MCAST took part in the Innovation Funders meeting, which brought together top-level attendees involved in innovation support from over 30 countries, the EUREKA network and the European Commission, as the press release says.

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The prime minister said that Malta is investigating ways to provide assurances through blockchain and distributed ledger technologies (DLT) not only for the island nation but also for Europe.

He said that moving beyond the initial “buzz”, Malta indeed is becoming the “blockchain island”. Tagging Malta as the first country that provides certainty and assurances in the sector, the PM mentioned that since the three landmark bills were passed last year the blockchain space has gone through rapid development.

Mr Muscat said that unfortunately automation is often received with scepticism, however artificial intelligence-based solutions enable services to operate more efficiently and accurately. Emphasising the importance of technology, the prime minister said that within the next five years, there will be more than five billion internet of things devices.

‘High-flying’ sector

Taking the floor after the prime minister, Junior Minister for Financial Services, Digital Economy and Innovation Silvio Schembri started by tagging the blockchain sector as a “high-flying” one, confirming that Malta has changed since the first blockchain summit was held in November 2018.

The junior minister emphasised that both the Malta Financial Services Authority (MFSA) and the Malta Digital Innovations Authority (MDIA) have rolled up their sleeves to work on helping businesses and startups enter and navigate in the sector.

In order to make sure that businesses looking for investors are safe, virtual financial asset (VFA) agents and auditors are being appointed by the related authorities, who will serve as gatekeepers in the space.

Mr Schembri praised the “diverse pool of talent” Malta has, expressing his high-hopes that these players will help boost Malta’s economy. He said the government is committed to upskilling talent, and mentioned the recent launch of the first DLT Masters course at the University of Malta.

Times today experience a fast digital revolution happening, which will not stop at blockchain, according to the junior minister, therefore Malta is committed to exploring further emerging technologies.

Mr Schembri once again stressed their work for turning Malta into an AI launchpad where businesses can prototype their products before springboarding them to the world. He also mentioned the commercial potential related to space, hence the set up of Malta’s Space Task Force.

He further elaborated on the emerging importance of eSports, ensuring that Malta is already investigating the sector’s potential and is ready to make related steps.

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The appointment comes in a time when SiGMA is growing not only in terms of shows they organise in Malta on a yearly basis, but also expanding overseas, looking to build new opportunities and bring the business to a global scale.

Rick Goddard joined the company at the beginning of April, tasked with reviewing procedures and setting new targets for each of the event verticals in 2019. His has commercial experience from a variety of sectors, most recently focussed on blockchain, cryptocurrencies and the ICO market, according to the press announcement.

“I am delighted to take on the role of CCO and support Eman and the group as global success appears on the horizon,” Mr Goddard said. “The company has grown quickly and I look forward to being central to the next stages of its global evolution,” he added.

“We are delighted to appoint Rick to the position of Chief Commercial Officer, adding to our C-level talent as we take the SiGMA Group to new heights around the world,” Mr Pulis said. “With SiGMA Manila 2020 set to be as big as our SiGMA show in Malta, and with the Emirates Blockchain Summit just around the corner, Rick will be crucial to the continued success of the group in meeting commercial objectives over coming years,” the founder CEO added.

SiGMA stands before a busy year, with the spring edition of the Malta A.I. & Blockchain Summit right at the corner. In addition to another blockchain venue scheduled for November, the iGaming SiGMA event and the first Medical Cannabiz World in Malta, the company is expanding into the Middle East and eyes Asia for further events.

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The move will take advantage of expanding interest in the Middle East for the emerging technology of online gaming due to “its potential to invigorate the economy and shake up governance,” the event organisers say. While Malta continues its focus on regulation, the Emirates and its neighbouring states are looking at blockchain with fresh eyes which SiGMA hopes will help its operations flourish.

The company says that its move to the Middle East coincides with “other major companies looking to get a finger in the blockchain pie, with industry players instead eyeing the United States as their base for business,” according to the press statement sent to BM.

“As part of the company’s strategic growth, the plan for 2020 will focus on strengthening core events in Malta and on the smooth running of the inaugural opening of the Emirates A.I. & Blockchain Summit. Rounding off an ambitious expansion plan, 2020 will also set the stage for the launch of SiGMA in the Philippines, with the event making its Asian debut in Manila,” says Eman Pulis, CEO if SiGMA.

Quick evolution

SiGMA — which is used interchangeably for the organising firm and the iGaming event — has gone through a rapid transformation since the first event was held in 2014. That year the firm says it moved into an untapped niche of opportunity within the local iGaming market. By 2015, SiGMA expanded operations and doubled its numbers. With attendance figures on the rise, 2017 marked entry to Europe, however, organisers say the plunge for becoming a world-class event came in 2018, “with an elite selection of delegates, policymakers and thought leaders pouring in from across the globe,” according to the press statement.

“It is this kind of international support and interest that has helped propel SiGMA into truly becoming the world’s iGaming village. Through a commitment to quality and years of successful operations, SiGMA has nurtured the development of a strong brand, allowing for its evolution into a global influencer on the iGaming world stage,” the press statement says.

Expanding operations

In 2018, the company expanded operations and launched a show dedicated to the emerging blockchain sphere; the Malta Blockchain Summit, which received positive feedback from the players in the industry. The show was also the launchpad for three pieces of Maltese government regulation; on blockchain and distributed ledger technologies (DLTs), and the initiation of a government Artificial Intelligence Task Force.

The blockchain summit in November 2018 attracted 8,500 participants and brought speakers such as W. Scott Stornetta, John McAfee, the Winklevoss Twins and Sophia the Robot to Malta’s stage. The organisers say that their summit took the scene by storm and has secured its place as the “leading event in blockchain tech”.

As of 2019, the show has expanded focus into exploring more niches and today runs rebranded as the Malta AI & Blockchain Summit. This year, two blockchain shows will be held in Malta — in addition to SiGMA’s iGaming summit and the first Cannabiz Summit World—; one in May and another one in November. The shows aim to attract a global crowd of exhibitors by boosting its offering to include artificial intelligence, quantum tech, internet of things and big data.

Cannabiz Summit World

The company will also host a medical cannabis summit; Cannabiz Summit World, where it hopes to offer a platform for leading researchers and regulators to explore the revolutionary cannabis industry to boost economic growth and revitalise the health industry.

Organisers hope that the event will lay the foundations for an evolutionary leap into medical cannabis as the worlds of science, technology, and agribusiness converge.

“The summit is a reflection not only of Malta’s efforts through Malta Enterprise and the Medicines Authority in attracting the most reputable firms to the islands but is also a reflection of the direction many states worldwide are taking in creating the right legislative framework for medical cannabis research, production and/or consumption,” the press statement says.

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“The future of mobility is stimulating,” MEP Ms Dalli said, emphasising it must rely on ecological and environmental sustainability. “This is a new era; globalisation and climate change necessitate traditional economic models to change for more sustainable ones,” Ms Dalli underlined.

She said that climate change is one of the significant challenges that we are facing and if no action is taken severe consequences might be sparked in economic and political stability. “Industry 4.0 is about digitisation, but it should also take a look at the ecological aspects and sustainability … Mobility and transport will be in the focus of the fourth industrial revolution.

The MEP said that the upcoming years will need to be about turning to zero- and low-emission mobility and that the regulatory framework needs to follow these efforts. She added that for such progress, a mix of EU and national legislation could be beneficial.

“We need a culture and mentality shift” in this regard, Ms Dalli said. She added believes industry players now understand the technologies that are needed to meet the EU’s targets related to lowering CO2 emissions.

She also said that cleaner energy and mobility pilots are needed, for which Gozo could be a “testbed”, further confirming PM Joseph Muscat’s announcement of considering Gozo as a location of carrying out a zero-emission zone pilot.

eMobility to revolutionise transportation

Transport plays a significant role in every society, and transportation has arrived at a crossroads, Jose A. Herrera, Minister for the Environment, Sustainable Development and Climate Change, said taking the podium after Ms Dalli. Mr Herrera said he believes eMobility will revolutionise how we think about transportation and working as well.

He mentioned that Maltese private individuals are highly dependent on cars, which has dire implications on the environment as well as on people. “We are striving for a cleaner environment,” minister Herrera said, adding that considering the future of infrastructure in Malta, commitment to electric vehicles is indispensable.

“We owe it to our future generations, and it is our duty to offer a better life in the near future,” the environment minister said. He said everybody needs to team up to discuss what can be done for a better future, including policymakers, authorities, manufacturers and market players.

“If we know our systems are failing our environment we need the courage to change,” he concluded.

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The first international eMobilty summit could not have come at a better time, according to the prime minister. Malta has experienced unprecedented economic growth in the past six years; the landscape is transforming, so are businesses, which at the end of the day are changing the country, Mr Muscat said.

“We are facing challenges stemming from the progress that we see as opportunities … We are here to discuss these opportunities … We do not shy away from challenges,” Mr Muscat said addressing the auditorium of market players and industry professionals.

He mentioned that two years ago the government started working on a total revamp of the local road infrastructure as part of a €700m project. He added that in the past six years, nationwide emissions have been reduced by 50% due to the changes the government started.

Mr Muscat also voiced certainty that the tunnel between Gozo and Malta will be built, and the government is making efforts to provide free public transport for people passing through the tunnel. At the same time, the Maltese government is planning to launch a pilot on Gozo, trying to turn the sister island into a zero-emission zone.

After turning Gozo into a zero-emission zone, the government would like to replicate this pilot in Malta, which Mr Muscat hopes will serve as a pilot for the whole European Union and the world for introducing electric vehicles in a country, going completely free of CO2 emissions. The prime minister, therefore, appeared to be an advocate of a “nation-wide changeover”.

He acknowledged that the country is heavily-reliant on cars; hence actions are needed to be taken with urgency, to put a stop to pollution. The government has commissioned PwC Malta to carry out a study to see how the changeover can be carried out in the archipelago. Mr Muscat said this study should be published in the upcoming weeks.

Questions that need to be answered comprise of the affordability of electric vehicles, whether a government can restrict the import and purchase of non-electric vehicles, whether the government can incentivise the import and purchase of electric cars and whether the national power grid is ready for an influx of electric vehicles. “People should be able to charge electric cars at home with sensible fees,” Mr Muscat said.

“There are barriers, but innovation should be the key to break down such barriers … We want to be trendsetters in Europe and the world in how we live and work; transport is one key factor,” the prime minister said referring to the government’s commitment to electric mobility.

He once again reiterated that this has to be done accompanied by — if not mixed with — the country’s efforts in being at the forefront of the blockchain, artificial intelligence and other disruptive developments. “We want to see how we can synergise these sectors with eMobility,” Mr Muscat concluded.

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