as far-reaching as it once was and we need to hold up a mirror to ourselves and look at the things we need to improve and that’s a process we are engaging with in innovative ways.”
One of the models the Digital Isle of Man team is changing concerns its relationships with eGaming entities on the island. Previously, where eGaming experts liaised directly with eGaming businesses, Mr. Wraxall and his team understand that these companies no longer need eGaming experts - they are the eGaming experts. What they need are advisors that can create meaningful relationships, grasp the issues facing businesses and, most importantly, understand how to resolve them. Te Digital Isle of Man team is hiring people to fill these new roles, specifically explaining to candidates that they don’t necessarily need a background in eGaming.
TAKING ON BOARD COLEMAN’S COMMENTS Client roles within Digital Isle of Man are also
changing. No longer siloed into eGaming or blockchain roles, the Digital team will have knowledge across every sector, rather than focusing in isolation upon the individual areas of eGaming, eSports, AI, Tech Trials, Big Data or Blockchain. “eSports is a complex area for us to get into - which means it’s going to be a slightly slower entry, but we are doing this with a view
that there is crossover with eGaming, and so can take skills and expertise in the eco-system without diversifying too far away from the eGaming industry,” described Mr. Wraxall.
“When we start looking at AI and Big Data, this feeds into the wider eco-system, which helps drive forward adjacent industries, including financial services and eGaming. Tech-trials are about bringing innovation to the island which is good for all businesses. Te Isle of Man wants to be first - whether that’s in IOT (Internet of Tings), autonomous vehicles, artificial intelligence etc., it’s looking to bring innovation that’s good for the wider digital sector.”
FAST-PACED CHANGE? Mr. Wraxall believes the digital conversation on
the Isle of Man will become a very different proposition in the next five years. Having joined Digital Isle of Man in 2018, he describes the island’s previous stance on blockchain as openly hostile. Fast forward 12 months and the Isle of Man has processed 21 blockchain applications, having made changes to policy at the government level, built a dedicated office to handle blockchain and held discussions with regulators to create a dedicated sandbox environment. “We created the strategy for blockchain in November 2018,” explained Mr. Wraxall. “Te great thing about the Isle of Man is
that we are a small island, so we can move quickly. It helps that our gambling regulator is very agile and very clever and that our financial regulator understands technology. However, it’s not just about what the government is doing. We have independent blockchain consultants working with us to establish the bridge between independents and regulators. Every application received is seen by both regulators and we are made aware of any red flags. We have had 41 applications in total, so we’ve said no to almost half the applications thus far, though many have
NEWSWIRE / INTERACTIVE / MARKET DATA P89
“When we start looking at AI and Big Data, this feeds into the wider eco-system, which helps drive forward adjacent industries, including financial services and eGaming. Tech- trials are about bringing innovation to the island which is good for all businesses. The Isle of Man wants to be first.”
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