The unprecedented effects of Covid-19 are having a substantial and long-term impact on our everyday lives, across various aspects.
However, the pandemic did not slow down digital innovation. Rather, it amplified it. Technology is right at the forefront of the new age and it is now imperative for companies and businesses to establish the right infrastructure to support digital transformation.
The Malta Digital Innovation Authority adopted a tech-first approach during COVID-19. Our objective was to embrace technology and prepare for the change, while harnessing enabling technology at the same time.
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Hence the MDIA Award for Innovative Technologies in Response to COVID-19, launched in April, which was aimed at encouraging the fast deployment of innovative technology to address this societal challenge and which can be used in similar future scenarios. The immediacy of the threat meant that the response has to be deployed fast in order to be effective, and it is crucial that we see the quick implementation and deployment of innovative technologies to ease the social and economic impact of COVID-19.
Following a rigorous evaluation process having received a total of 23 valid submissions, the first prize was awarded to Marc Anthony Azzopardi, and the second prize to David Sciberras.
The award showcases how and why the regulatory role of MDIA is paramount. We are an important stakeholder in the deployment of innovative technologies onto the market, and hence we are always willing to meet with market operators in order to assist and give direction as the case may be.
Innovative technology becomes more relevant every day, especially in a post-Covid19 world, and our ever-increasing reliance on software means we must ensure that such software matches actual functionality.
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Malta is truly a global leader when it comes to digital innovation. We are the first country in the world to set a legal infrastructure for Distributed Ledger Technologies (DLT). What distinguishes us from other countries and other hubs is the fact that we are not only making a due diligence on the individuals but also on the underlying technology. Even big countries like China are choosing to take this path when dealing with innovative technology especially that which operates within the financial sector.
We can boast of an extensive regulatory framework upon which we can process and certify not just current DLTs but also emerging technologies. MDIA remains committed to further its research on cutting edge innovative developments in IoT devices, Quantum based technologies (processing and security) and much more.
This year MDIA focused on AI technology by looking into what AI means and how it can improve and impact our lives and our work. We also explored how we navigate those spaces differently with new emerging technologies. MDIA holds a key role in making this leap into new spaces happen.
MDIA is continuously amplifying its technical capabilities and strengthening its internal operations, to be in a position to direct the country into new technological business opportunities that go beyond the distributed ledger and blockchain technologies. As it creates a sound and fair operating playing field for innovators, MDIA also aspires to become a consultative body to other national competent authorities for the implementation of innovative technologies.
We remain committed to increasing protection to users of Innovative Technology Arrangements (ITAs), through high standards and guidelines thus providing transparency and legal certainty to the end user(s).