It took two visionaries, substantial intellectual and financial capital, a lot of angst and the backing of an e-commerce savvy government.

But finally Quo Vadis, the world's first offshore digital certificate authority, is live. Last week's official launch had speaker after speaker proclaim the historic nature of the event. To understand all the fuss, imagine colonising cyberspace.

The company, founded by Bermudians Stephen Davidson and Tony Nagel a year-and-a-half ago, aims to be the leading, if not the only Certificate Authority for the offshore world.

Using technology provided by software security company, Baltimore Technologies, Quo Vadis will issue digital certificates for secure online transactions. The technology, Public Key Infrastructure, effectively counters online fraud by banishing anonymity between contracting parties in cyberspace.

"Five years from now you won't recognise it at all,'' said Paul Hellmers, CEO of e-Venture Centre which provided seed funding for the venture.

"There is such a rich series of applications. Quo Vadis is in its early stages right now.'' Davidson and Nagel's belief that a Certfication Authority is essential if a jurisdiction is to be viable for e-commerce, is now standard wisdom. Being first to market in the offshore world, and having plenty of capital behind it to boot, practically guarantees success, said Hellmers.

"People want certainty,''he said.

"The launch of Quo Vadis invigorates Bermuda's e-commerce vision by making offshore PKI available for the first time ever,'' said Telecommunications and e-commerce Minister Renee Webb, in an electronically signed proclamation on Quo Vadis' launch. By enacting pioneering legislation regarding the validity of digital signatures and electronic contracts, Government paved the way for Quo Vadis.

Cam Johnston, a partner in Ernst and Young which acted as business advisor for Quo Vadis, calls the whole thing "very staggering and very significant''.

Johnston said that the explosion in international business and insurance is about to be duplicated in the online world. And he predicted that performance guarantees and warranties for transactions are the next big growth area for the Internet. Bermuda, he added, is now perfectly positioned to assume risk for cyberspace transactions.

The company is hitting the ground running with clients and cash flow.

"Quo Vadis will be the brand for offshore security,''said Stephen Davidson, when asked where the company might be in five years time.

"That's what I want. That's what I expect. When it comes to security we are the authority.'' Historic moment: Telecommunications Minister Renee Webb at Friday's launch.