Bermuda set to become global hub for blockchain and fintech
Bermuda is leading the way in the formation of new digital assets with the most progressive legislative framework for initial coin offering and digital assets, a leading tech lawyer has said.
Law partner Jerome Wilson, the head of technology and innovation practice at Appleby’s in Bermuda, will be participating in the three-day 2021 Bermuda Tech Summit, which takes place virtually starting on October 13.
Mr Wilson said: “Bermuda is becoming a global hub for blockchain and fintech with three types of digital asset business licences, including a sandbox-type licence for those looking to test their proof of concept, a modified licence for a limited period and a full licence for entities looking for something more long term.
“We are here to support businesses at different stages and as market demands evolve locally and globally.”
Mr Wilson added: “We are very pleased to continue to sponsor and support the Bermuda Tech Summit, now in its third year.”
Appleby is a platinum sponsor of the conference, which is presented by the Bermuda Business Development Agency.
The lawyer will have a role on the regulatory panel, in addition to speaking during the digital assets discussion with technology colleagues, partner Matthew Ebbs-Brewer and associate Kit Cunningham.
The conference theme is Transforming the Digital Landscape, and will feature insights and predictions based on the latest trends and future developments.
Appleby’s multidisciplinary global technology and innovation team comprises experts from the firm’s ten offices who help businesses meet new challenges and support clients across a broad range of emerging technologies.
Members of Appleby’s fiduciary and corporate/trusts service provider, AGS, will also be there.
Mr Wilson will participate on the summit’s main panel with other industry experts.
It will focus on how new technology will only reach its full potential and flourish if sophisticated legislative structures and regulatory frameworks are put in place to support their development.
This session will provide insights into how Bermuda is striking the balance between innovation and customer protection as a premier financial services jurisdiction.