Organtree launches Blockchain-based communications portal fororgan donation.

In the current system the waiting listfor receiving an organ around the worldis endless. Research from UNOS showsthat someone is added to the waiting listevery 10 minutes and there are 20 peopledying a day whilst waiting. As a result ofthis a black market has erupted resultingin organ trafficking from poor countries.In 2012 the WHO reported 11,000 illegalorgan trades. Organtree was created to solve these

issues by actively making more donorsaccessible through incentivising meth-ods and by increasing efficiency and se-curity through new technology. Thecurrent platform allows donors (whomost likely don’t have life insurance) tosign up and assures their family mem-bers will be compensated for the dona-tion - helping to pay for bereavementcosts. Partnered hospitals and medicalentities have access to all donor informa-tion and are able to instantly match themto patients in need. Organtree is aiming to develop the

technology further into a Blockchain-based communications portal for the

organ donation industry. The purpose isto provide confidential live data of donorsand recipients to the partnered medicalentities worldwide searching for a poten-tial match and subsequently increasingthe amount of donors available. The Blockchain-based platform is

being developed on Block Lattice tech-nology (NANO Blockchain) where eachuser will be assigned their ownBlockchain and the data will be im-mutably kept on the OGT network. Smart contracts will facilitate the ex-

change of data between donors and re-cipients, allowing hospitals to accesspatient data if an agreement is made and

ing an ICO. The project is currently in pre-ICO stage and will go live on 1st Decem-ber 2018.

Those interested tocontribute can purchaseOGT tokens (22,000OGT/1ETH) and benefitfrom extra bonuses now.www.ico.organ-tree.

22 TUESDAY 8 OCTOBER 2018FEATURE CITYAM.COM 23TUESDAY 8 OCTOBER 2018 FEATURECITYAM.COM

British Protectorate that is currentlyChair of the Commonwealth of 53 sov-ereign states still paying allegiance tothe British Crown, is a Blockchain bas-tion glaring, sun-drenched, in the faceof the UK Government.The HoC Treasury Select Committee’srecent call for the UK Government to in-troduce rules to ensure cryptocurrencyinvestors get regulatory protection, and‘end the cryptocurrency Wild West’, wasat last UK Parliamentary recognition ofthe rise and potential importance andbeneficial impact of the new crypto-eco-nomics. Since the 2008 crash, which cal-lously cut the financial and aspirationallegs from under a whole generation of

Ispent last week in Malta, the self-styled‘Blockchain Island’ to attend the DeltaSummit. It was an extraordinary experience

heightened by the ‘can do’ attitude the Maltese,who exhibit their absolute pride and self-belief inthe Blockchain project led by Prime Minister JosephMuscat. The only real dissent that I heard, on many occasions,was that mainstream bankers’ attitudes to anyone wanting toset up their corporate accounts appears to be much lesshelpful than the Government itself. The reason behind thiswas explained to me as being that the big European bankstend to be dictating terms - their rules are the only rules! I reallydo hope that this method of stifling growth and innovation isnot as rife as portrayed, especially given that the IMF issued itsstarkest warning yet that the mother of all financial crises willhit in 2020 echoing my ‘Armageddon’ column on 28th August.Speaking with Ben Boyle, COO of Drive Markets in Malta, hereassured me that he has an impeccable crash plan - I hope heshares it with Crypto AM in good time!

The Delta Summit itself, conceived by Dr Abdalla Kablan,was an extremely well organised and successful event with4,000 people attending versus the expected 2,000. Thissuccess highlights the continued confidence the Blockchainindustry has in itself and how seriously the Maltesegovernment embraces it. It was also really exciting to hearfrom Parliamentary Secretary Silvio Schembri that AI, Internetof Things and Space research are all being looked at forspecial attention. Theo Priestley, the futurist andtechnologist, acted as host and anecdote teller wasparticularly enthusiastic about this broadening of focus.

The star of the summit was Changpeng Zhao ‘CZ’ thecharismatic founder and CEO of Binance - the exchange andcrypto issuer that has been one of the true successes of thelast 18-months. When we had a moment to chat heconfirmed that he had no immediate plans to come toLondon. which I take as my cue to ask what about post Brexit- if we get things right at a Corporation Tax level who knows?The UK might become just the place for innovative businessto domicile.

Speaking of innovation, I met Dubliner Ciaran Kelly,Founder of Ecoingot – who said “my experience of Malta hassurpassed my wildest expectations. Our lawyers, ChetcutiCauchi, have worked diligently to assist Ecoingot in its initiallaunch and offering in compliance with the current legalframework and upcoming developments. Malta has takenthe first step in issuing legislation and regulations for thisinnovative market – I am really looking forward to sharing ourstory with your readers on 16th November.”

Millennials, and exposed traditional fi-nancial markets’ regulation for the rowof beans that it sometimes still is (despitethe supposedly reassuring oversight ofbean-counters), the Millennials are get-ting on with imagination, technicalskill, energy and enthusiasm in pioneer-ing these new wild prairies of digitalwealth-creation.Britain’s Millennials are as crypto-ac-tive and productive as any and, whilstsome may perish, with hackers’ arrowsin their backs, they afford post-BrexitBritain a great crypto-opportunity. Theparadox is, if there is to be Governmentregulation, then, as Malta has now pio-neered, that will effectively have to bring

cryptocurrencies into line with other se-rious investment instruments based onTTPs – striking at the very heart of themuch-vaunted ‘trustless’ Blockchainsoftware architecture on which Bitcoin,and other altcoins and crypto-tokens areintrinsically operationally and techni-cally dependent. “However, withoutTTPs regulation” Castell cautions, “it isdifficult to see how cryptocurrencies canbe brought into the portfolio of lawful,trusted investments. Meanwhile, ofcourse, no-one should expect, or wish,their Pension Fund contributions to becrypto-invested”.Castell concludes: “For over eighteenmonths, the Maltese Government wasworking on the first-ever regulatoryframework for DLT platforms and vir-tual assets. The Malta Delta Summitlast week impressively featured an EUPrime Minister ‘talking crypto’ like heknew what it meant (Mrs May are youlistening?), and involving all of Malta’smain regulatory bodies. The newBlockchain laws, giving authority to theMDIA, came into effect from the 1st ofOctober: any putative Blockchain start-up company, software and systemsprovider, ICT consultant, venture capi-talist, or DLT or Smart Contract applica-tions developer should be bookingflights asap to Valletta, the 2018 Euro-pean Capital of Culture – and now alsoCapital of Crypto. The UK has itselfmissed becoming the Blockchain Is-land, but, taking a delicious pastizzfrom the Maltese, a similar UK-Govern-ment-led British Crypto-Summit isclearly overdue”.

Malta Digital Innovation Authority Act(MDIA Act) Innovative TechnologyArrangements and Services Act (ITAS Act)Virtual Financial Assets Act (VFA Act)

Crypto is the Millennials’ Rock-’n’Roll” says Stephen Castell,”and Dr Joseph Muscat, theMalta Prime Minister, hasemerged as the world’s top

crypto rocker, bravely positioning hisbeautiful sun-kissed sandstone islandcountry, Chair of the Commonwealth,and President of the Council of the EU,as the leader in regulating Blockchainapplications, ICOs, cryptocurrency trad-ing and, more widely, digital innova-tion”.But will the enactment of three newdigital economy laws in Malta*, in-tended to protect customers and in-vestors, turn out simply to be a futileattempt to regulate the unregulatable?Castell thinks there is a good chancethat this will be the outcome: “Expertsknow that computer software and sys-tems are provably ontologically unreli-able and unprotectable. Basing newapplications, let alone digital invest-ments and virtual assets, on supposedlycryptographically-secured Blockchainarchitecture does not magically alterthat fundamental technical truth. Fur-thermore, the idea that ‘digital innova-tion’ can possibly be controlled andlicensed will be scoffed at by manywildly-creative computer softwarecoders. And bear in mind that there areas yet no ISO technical standards forBlockchain”.Castell however applauds this daringplay by Malta to become the BlockchainIsland. “The key to bringing cryptocur-rencies into the community of accept-able protectable investmentinstruments, as Malta has realised, andnow stunningly implemented, is to cre-ate a legal structure, and due diligenceassessment protocols (including KYCand AML checks) authorising Trusted

Third Parties (TTPs) who will be held ac-countable. TTPs can potentially be sanc-tioned, fined or de-authorised by aRegulator, and sued when anything goeswrong – just like other companies suchas banks, funds, brokers and promotershandling and seeking punters’ cash andinvestment in company shares, bonds,property and regular currencies. Youcannot sue a piece of Blockchain-basedsoftware, or consensus-written datahashed in a block. But you should cer-tainly be able, for example, to bringcourt action against an altcoin exchangelicensed by the MDIA if it loses yourmoney through being poorly managedand capitalised, or trading a scam utility

token, or promoting a shoddy suspectICO, or simply lacking proper financialgovernance and reliable cybersecuritysystems. Malta’s MDIA initiative is a wel-come development and I for one will beexploring becoming a Registered Sys-tems Auditor under its new ITAS Act”.The MDIA is led by CEO Stephen Mc-Carthy, a CPA, once Finance Director ofGreenpeace Mediterranean, and for-merly serving as CEO of the Malta Hous-ing Authority. The MDIA launch byMalta’s crypto rock star PM Joseph Mus-cat, and his Buddy Holly-lookalike JuniorMinister for Financial Services, DigitalEconomy and Innovation, the Hon. Sil-vio Schembri, coming from the former

Designed byPhill Snelling,Bowater Media

Dr Stephen CastellCITP CPhys FIMAMEWI MIoD in conversation with JamesBowater. Dr Castell is an acclaimedaward-winning internationalindependent forensic ICT consultant andexpert, and in the 1980s a founder of theUK’s OTC Share Market for newtechnology-based firms, at the MaltaDelta Summit, 03-05 October 2018.https://delta-summit.com/

In association with

CITY A.M.’SCRYPTO INSIDER

Crypto A.M. shines itsspotlight on Organtree

@CityAm_CryptoE:CryptoInsider@cityam.com

JAMES BOWATER

PARTNER CONTENT

Our series on AI, Blockchain, Cryptocurrency and TokenisationCRYPTO A.M.

The Blockchain-based platform isbeing developedon Block Lattice

technology

CRYPTO: UNCHAINED BUT REGULATED.

When will it kickoff? It alreadyhas! (You just cannot see ityet). Perhaps the most

enjoyable part of my role these daysis that I get to meet some of thebrightest minds in business, not leastvia ICOrad.io interviews, but alsostrategy sessions - this last week witha sector leading CEO who others lookto for a lead on all things digital.One of the brightest minds in a sectoryet to fully grapple with the last waveof the web who's contemplating thenext one. We discuss the opportuni-ties, threats and potential for deepand positive disruption in the sector.Not least the fractionalisation of hismajor asset base - with deep implica-tions for the way business works in thesector as well as the potential to re-lease and mobilise over half a billionpounds that remains effectivelyfrozen until now. Multiply that be say400 nationwide and it's not difficult tosee how this one application alone ofblockchain technology and tokenscould make a huge impact not just lo-cally or regionally but nationally. Es-pecially as it bears on a major problemfor successive governments and couldaffect, for the good, millions of house-holds.As ‘Digital Human’ author and Bank-ing guru Chris Skinner has pointed

out the revolution is upon us: “Whenindustries are being rebuilt from theground-up with new technologies andnew business models, then it is a revo-lution. When we are living in an agewhere every human on earth can beconnected through technology, it is arevolution.”How, why and where, my interlocutor(let’s call him Jonny) wanted to knowdoes all this ‘energy’, this ‘value’ comefrom? How come this new technologycan do so much more?A deep question. The answer is not tobe found in the code, or studying thetechnology itself, so much as what itcan enable that could not practicallybe achieved before.Because the first thing it can do is all-but-remove the frictional forces whichadd costs and slow everything down,making possible a wide range ofthings that were intrinsically feasiblebut totally impracticable. It also bringsmesh computing and smart-contractautomation to bear at almost zerocost. On top of which tokens allow in-centives to be aligned and distributedlike never before. In ways that are sofar from trivial that what we are talk-ing about is, there is no doubt, a revo-lution.

Listen to the latest at ICOrad.io or emailquestionsto Barry.James@TokenIntelligence.io

TOKEN INTELLIGENCE

When the revolution begins

Ron Gologorsky, Founder of Organtree Limited

OGT tokens have been designed to createan ecosystem whereby patients can payfor transplants and donor’s families canbe rewarded after cadaveric donations tohelp pay for bereavement costs. Organtree does not claim or intend in

any way to be an organ trading platform.Their aim is to simply develop a decen-tralized platform where medical entitiesand donors can connect directly, and

help save lives on a global level. In thefuture Organtree has planned to useraised funds for R&D into bioprinting ofhuman tissue and organs which will fur-ther their goal into making organs moreavailable and eradicate the need for ablack market by tracking and vettingevery organ. With the aim of raising funds and

awareness they are creating and launch-

Malta’s unprecedented economicsuccess is a result of a collectiveeffort – the political will of

decision makers but even more so thehard work of our enterprises, ourworkers and our resilient institutions.

We have a solid financial servicessector and through innovativetechnologies we’ve vouched to enhanceit even further. We are now leading thepack in emerging distributed ledgertechnologies (‘DLT’), amongst themBlockchain. This sector had been untilnow unregulated – with no peaceof mind and serenity for bothcustomers and businesses,with no checks and balancesand no clear frameworks.

Over the last months, theMaltese Government hasactively sought how to positionMalta as a major hub in terms ofthe digital economy, which willplay a central role in theeconomic

sustainability of the years to come. TheMaltese Government has legislatedthree acts that will provide legalcertainty to the space, involving DLT anddigital financial products and services,such as virtual currencies and ICOs.

This environment has alreadyattracted some of the world’s leadingcompanies that operate in thecryptocurrency and Blockchainecosystem towards Malta. Leadingstakeholders are choosing Malta to hosthigh-level international events, which

will pave the way to furtherinvestment.

One such important event is theMalta Blockchain Summit takingplace on the 1st and 2ndNovember 2018. I look forward to

meeting you then and tostrengthen our ongoing efforts in

making Malta the Blockchain Island.

Hon. Joseph Muscat, Prime Minister of Malta

MALTA BLOCKCHAIN SUMMIT 2018

The Blockchain Island: Malta to be amajor hub for the digital economy

With a number of stablecoins beingreleased recently, we took theopportunity to share our

thoughts on what might contribute to theirsuccess.

Audit:where a stablecoin is backed byanother asset, it is important that anindependent auditor can verify theholdings of those assets. The absence of arobust audit process and of frequentreports could lead to a loss of confidence inthe coin.

Delivery:a stablecoin that allows itsholders to easily and efficiently takedelivery of the underlying asset couldmake it more attractive than alternatives.While the cryptocurrency has use itself,being able to secure delivery of the

underlying, should the need arise, couldincrease adoption. It may also be worthconsidering the capability of the averageuser of the coin to actually take delivery.For example, taking delivery of currency ora kilogram of gold is typically easier than itis to accept delivery of a ton of copper.

Asset liquidity:basing a stablecoin on anasset with a liquid market allows for thecoin to be easily be priced using the mostrecent market price. Furthermore, having astablecoin based on a large and liquidmarket allows the coin to attractparticipation from those already trading inthat market, thereby expanding its reach.

Use case:For a stablecoin to besuccessful, there should be an incentive touse it. This use could be entirely within the

blockchain economy, such as onblockchain exchanges. However, where astablecoin is based on an existing assetclass, it may be possible to expand its useoutside of the blockchain economy, astraditional businesses are able to moreeasily understand its value.

Why blockchain? Blockchaintechnology offers benefits to manyphysical assets. Considering the goldmarket specifically, combining gold andblockchain technology allows for gold tobe easily used as currency once again,without many of the existing costs, if it isdone the right way. Indeed, we may bemoving past the point of asking ‘whyblockchain?’ and instead should befocusing on what the best options are.

Ryan Case,Chief Commercial Officer of Kinesis,precious metals and cryptocurrency expert.

WHAT MAKES A ‘STABLECOIN’SUCCESSFUL?

Commonwealth ChairMalta introduces newBlockchain laws andlaunches the MaltaDigital InnovationAuthority (MDIA)