With all the recent hype about Malta becoming ‘Blockchain Island’, and the explosion of the esports industry worldwide, we thought it would be interesting to get the viewpoint of the island’s premier specialist recruiter.

So, AYO.NEWS caught up with Fran Moisa, Managing Director at Nicholls Moisa & IGaming Elite, to discuss the future of blockchain and esports in Malta.

What kind of growth do you see for the blockchain and esports sectors in Malta over the next few years?

Taking the two sectors , from a regulatory and economics framework, Malta can act as a solid corporate base for the pioneers in these sectors, however, personally, I believe that we are right at the beginning of setting up the stage and right foundations, for these sectors to flourish.

Blockchain, whilst adopted globally at various levels, in Malta, it has not reached the point of economic and corporate vibrancy. We have superb presence from businesses such as Binance and Okex, with a lot more names to add to it, but it’s a long journey from set up to a new ecosystem being established and yielding the same results as it’s corporate counterparts, in the micro economic sense.

I am a firm believer in the development of blockchain technology and whilst I am no mystic Meg, it’s not hard to see why such a technology can hugely contribute to the efficiency and transparency of major economic sectors, such as Finance & IGaming, sectors which are hugely pertinent to Malta’s economy.

Esports has gained strong traction over the last few years locally and I am glad to see that the initiatives adopted by the Government are in tandem with the wider IGaming Community. Also, esports and blockchain, are a beautiful combination, as we have seen with the wonderful work of Chiliz for example.

Whilst on the blockchain sector I anticipate a slower growth, followed by some consolidation, before we can call it an ecosystem of the local economy, on the esports front, I believe that we will make fast progress in the next 18 months.

With the influx of crypto and blockchain based firms to Malta, a.k.a ‘Blockchain Island’, do you see the recruitment industry evolving at a matching pace?

Companies are welcoming the great initiatives taken by the Government with the launch of the DLT legislation and the new MDIA authority , as well as the launch of the Blockchain Campus and Blockchain Studies Programme and of course, with all of these underway, it attracts a lot of interest and opportunity from the global players.

However, as I mentioned, I personally believe that we are now in the set up phase and it will be a good amount of time ( I would say around 18 months+ ), before we see the economic and social developments of the companies setting up in Malta. Of course, after the set up and consolidation phase, it’s reasonable to expect a growth in the recruitment activity, especially across the areas relating to technology, compliance & regulatory and operations.

The recruitment industry as a whole, needs to be a lot more refined and I have been an advocate of this for years, along with my colleagues. The current methodology is quite scattered and as the businesses become more tech driven as they develop, it’s imperative that the recruitment methodologies also evolve.

Are you concerned there will be a skills gap as blockchain tech is rapidly adopted?

Globally, to some extent, yes. Like with any new sector or technology, there is an immediate gap created. However, I have been following this for the past two years and I must say that in terms of tech, professionals have really picked up the pace at their own volition and immersed themselves into the global ecosystem, which creates a big advance for corporates to tap into self-developed talent and offer them a structured development curve .

Where are you finding most blockchain and tech talent, and is Malta doing enough to attract it?

In terms of tech, the vast majority of talent comes outside of Malta. When it comes to operations, finance, regulatory, marketing, etc. types of roles, the balance evens out with the local supply of professionals.

However, locally, there is an evident lack of supply in the areas of tech professionals, M&A, commercial finance and C-level executives with global expertise and companies are feeling the pressure when roles are left vacant for 12weeks+ due to the lack of homegrown talent.

When it comes to attracting international talent, I believe that Malta has slowed down in its attractiveness index, primarily due to the rising cost of living and poor infrastructure (see RISING RENTS & LIVING COSTS JEOPARDISE MALTA’S GAMING INDUSTRY).

With the explosive growth of esports around the world, do you see many opportunities appearing on the commercial and business side of the industry?

Absolutely, especially in the areas of M&A, commercial finance and commercial operations. These 3 areas are critical to the development and explosion of a new ecosystem.

Do you feel the education system is effectively preparing the next generation of talent?

Ah, I am not sure I am the best person to ask this, as I am a very vocal critic of the education system across the Globe. I rate it as archaic , ill fitted and non-responsive to the needs of the industry at a macro or micro economic level.

The education system is failing generation after generation, by not revamping its curriculum across the board and still teaching theories and methodologies that were relevant in the Industrial Era. Of course, general knowledge is one thing, but the education system has failed to develop practical learning models for professionals across finance, legal, tech, project management, to name but a few.

You have some brilliant students from an academic point of view that when faced with filling a court form, for example, they have no idea where to start.

We are stuck in rut, a rut that not only doesn’t develop creativity, critical thinking and reasoning, but it absolutely destroys, at a large scale, any critical reasoning and practical skills by adopting a system which rates intelligence as the ability to memorise and repeat information.

We know there has been much discussion about how millennials have different priorities and work expectations than generation X, but what are your predictions for the upcoming generation Z as then enter the workforce?

Predictions – again, I am no analyst, but I am hoping that the next generation will revamp the education system , because everything starts there and we will see a generation that critically analyses information and they will want to be rewarded by their ability to create and add value, rather than repeating the same old spiel. If we have a generation of challengers, then their expectations will look to disrupt, deconstruct and re-create the world based on the experienced inherited as well as the new social and economic construes.

Are you concerned that though blockchain and AI are undoubtably creating some new roles, overall their widespread adoption will lead to far fewer workers actually being needed?

The work force will refine. The work pool won’t be quantity driven, but quality and needs driven. In time, I don’t know how long, but in time, through AI and blockchain, as well as other tech and commercial developments, the work force will be redesigned and re-engaged. Will we need fewer workers? In certain areas , of course. But in other areas, other needs will be development, so a natural migration and absorption will occur.

We frequently hear about people working in other sectors, who suddenly discover blockchain, develop a passion for it, and begin a career in it. What is your advice for people who find themselves fascinated by blockchain and wanting to launch a career in it?

Ah, you see, I have not taken this step myself, so I would be insincere in giving advice. But, from speaking with individuals who have had, the advice, which can be applied pretty much across the board, would be :

• Identify the anticipated demand in relation to your current profession – are you a lawyer? Train in DLT related regulatory frameworks . Unless you completely want to change from , let’s say, accounts to tech, always look to enhance your current profession in the light of the new requirements
• Find an opportunity to practice those newly acquired skills – offer a couple of hours a week or whatever works for you to a firm, where you can practice your new skills, without having to go through the whole career change – you might find that you hate it
• Develop a network in that area – attend events, follow industry leaders and engage with them
• Find a mentor – cannot stress this enough
• If you are to make a move, make sure that the business has sufficient funding and scrutinise their financial performance

AYO.NEWS would like to thank Fran for sharing her views on these fascinating subjects, and we hope to bring you more from her in the future. In the meantime, if you’re looking to make that perfect career move, make sure you check out iGaming Elite here.