Our colleague, Szaló Réka interviewed Joseph Borg who is Vice-President of Bitmalta, and also a senior advisor at WH Partners, a law firm specializing in Gaming, Corporate, IT, Telecoms and Intellectual Property Law. He also lectures Gaming Law at the University of Malta and is the Secretary General of the Malta IT Law Association.
Thank you for being available and accepting this interview. First of all will you please introduce yourself and the company you represent?
Borg: Thank you for inviting me to give this interview. It is my pleasure. I am an advocate by profession, and I’m currently a Senior Advisor to WH Partners, practising mainly in the areas of Gaming, Blockchain, Esports, Corporate, IT, Telecoms and Intellectual Property Law. I also lecture Gaming Law at the University of Malta. Currently I’m also the Vice-President of Bitmalta, which is a non-profit organization that I co-founded, with a mission to promoting and stimulating discussion about blockchain technology and cryptocurrencies in Malta. Before joining WH Partners I occupied the post of Chief Regulatory Officer of the Lotteries and Gaming Authority – Malta (now the Malta Gaming Authority), where I worked for almost 7 years. During my tenure at the MGA, I was elected as a Member on the Board of Trustees of the International Association of Gaming Regulators (IAGR).
You have rich experience in providing advice to the Gaming industry. Why did you choose gaming, or may I ask: did the industry choose you?
Borg: I believe the industry chose me when I joined the Lotteries and Gaming Authority in Malta in 2017. The MGA (then known as the LGA), was set up in 2004 and became fully operational by 2006. I was one of its first employees and I witnessed the growth of the industry in Malta first hand. I was coming from a telecoms and IT law background after obtaining a Masters degree in the subject and 3 years experience as Legal Counsel to Vodafone Malta. Coming from a vibrant and dynamic industry like the telecoms industry I thought that this is as interesting and exciting as it can get. But when I got into the gaming industry I felt that this is the industry I want to focus on. If the telecoms industry is vibrant, dynamic and exciting, the gaming industry is all of that ten times over.
What is your personal opinion about the European gambling industry and could you make a comparison with the market that you know better and the European situation in terms of gaming and gambling?
Borg: Unfortunately the fragmentation of the European market is bad news for the industry and players. It is next to impossible for the industry to grow across the European market and we have situations where customers from different European Union member states are not able to obtain their services legally from their preferred provider. It has created first class and 2nd class EU citizens where 1st class citizens where some citizens are spoilt for choice in terms of which operator they want to play with while 2nd class citizens are bound to choose from a few operators that have little or no competition and that can take the attitude of ‘take it or leave it’ or worse still that would like to offer a better product but cannot because they are stifled by outrages taxes and irrational limitations. It is a ridiculous situation, where in a common market that is supposed to present equal opportunities to everyone.
What advice would you give for those investors who are planning to set up a business in the gaming and gambling sector in Europe?
Borg: It is difficult to set up a new gaming business and succeed in Europe at the moment, unless you come up with an innovative business model or innovative products that will give you the edge. Currently I see room for growth in the Esports betting sectors, blockchain technology based products, virtual reality and augmented reality products, as well as niche operators. Most successful startups will be taken over by the big boys in the industry. But that’s a lifecycle we have to adapt to.
According to you which are the values of Bitcoin that can make it very effective and due to which it will enhance the gaming industry?
Borg: The technology behind Bitcoin is the real game changer. Blockchain technology brings with it massive advantages to the gaming offerings especially when it comes to security, trust, player protection and cost efficiency.
With this technology everyone is a winner. Operators benefit from security and cost efficiency, customers befit from added security, trust and player protection while the regulator benefits from all of the above as well as a higher degree of monitoring possibilities.
With blockchain technology, everyone is a winner!
Cryptocurrencies are the blood running to the blockchain veins. Cryptocurrencies bring a number of challenges and opportunities. But all the challenges can be overcome with a little bit of effort and common sense from all parties involved.
You are Co-Founder and Vice-President at Bitmalta, a non-profit organisation. What mission does this organisation undertake? Will you please tell us more about this organisation?
Borg: I set up Bitmalta together with Jonathan Galea, who has been actively involved in blockchain technology and cryptocurrencies for over 5 years, when very few people had any idea of what this technology entails.
It is a non-profit organization that I co-founded, with a mission to promoting and stimulating discussion about blockchain technology and cryptocurrencies in Malta. The aim is to lobby in favour of the adoption of blockchain technology and cryptocurrencies with the government as well as with regulatory authorities. It also aims at educating people through seminars and other initiatives about this revolutionary technology.
What is your main hobby?
Borg: My passion is football. I am a big Juventus fan, a season ticket holder at the Allianz Stadium in Turin. I was also the President and Co-Founder of the largest Juventus official fan club outside of Italy. Unfortunately, due to work and family commitments (I’m a father of 2 year old twins) I had to resign from the club and I travel to Turin less frequently. However, I would not miss a Juventus match, irrespectively of where I am in the world and on which time zone I am in.
I also try to go to the gym 3 times a week, when possible.
Where would you travel the most in Central Europe?
Borg: My favourite cities are Turin (for obvious reasons), Stockholm and Edinburgh. However, my most memorable travels have been to the wilderness of the countryside of Sweden, Ireland, Scotland and Alaska. …
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