enables members to conduct electronic commerce The Bermuda Connect Association, which was formally incorporated in mid-March as a not-for-profit company limited by guaranty, has been working closely with the Bermuda registrar of Companies and the Bermuda Monetary Authority in the development of electronic applications for its members.

The Bermuda Connect network, which became fully operational on March 23, is a centralised application and mail service that enables members of the Bermuda Connect Association to conduct electronic commerce.

The driving force behind this initiative was the opportunity for senior management in the Island's insurance industry to be able to send and receive local electronic mail and attachments simply and securely.

In January 1997, Paragon Bermuda Ltd. was tasked with investigating the feasibility of implementing a secure, Island-wide Intranet to handle the movement of mail messages and attachments.

Paragon Bermuda Ltd., in conjunction with local telecommunications provider Quantum, is now able to provide a robust, secure electronic mail and electronic commerce application service to the service membership through any of the following mail transport systems: Lotus Notes, cc:Mailo and Microsoft Mail/Exchangeo.

The network can be classed as an Extranet, which is a network among trading partners, based on Internet standards but completely separate from the commercial Internet.

Quantum, which received a full-service telecommunications licence in December, has been focusing its initial efforts on data communications in the Hamilton business district. Quantum's state of the art fibre optic network rings throughout the City of Hamilton are being used for the delivery of services to members of the Bermuda Connect Association.

Quantum is also hosting the equipment for the Bermuda Connect network.

The long-term goal of the network is to create a vital electronic commerce link between international businesses, associated local companies and government agencies. The first application service, which will be available on the network in the early summer, is with the Registrar of Companies.

According to the current registrar, Kymn Astwood, members of the Bermuda Connect Association will initially be able to conduct the following activities electronically: Review the public and insurance company registers; query the company names' reservation list and submit an application to register a company name; and submit applications for a variety of services.

Mr. Astwood said: "Subsequently, users will be able to file statutory financial returns, register documents and make payments of taxes and fees against a pre-established account.'' Paragon Bermuda Ltd. is also working closely with the BMA to create other applications for Bermuda Connect.

Marcia Woolridge-Allwood, deputy general manager of the BMA, commented: "Among the responsibilities of the BMA is the supervision of Bermuda's financial services sector and the vetting of individuals and entities wishing to set up corporate vehicles in Bermuda, have developed a number of software applications with Paragon Bermuda Ltd.'' The applications have the capability to enable authorised members of the Bermuda Connect Association to electronically apply for: The incorporation of companies; the establishment of partnerships; and the issue of permits to overseas companies; Collective investment schemes such as mutual funds and unit trusts can be registered via Bermuda Connect, shares may be issued and transferred and the status of outstanding applications can be checked into.

Paragon director Graham Pearson said he feels strongly that "the deployment of secure, electronic commerce applications within Bermuda can serve to differentiate Bermuda from other jurisdictions.'' He continued: "For example, automating the interface between the registrar of Companies, the BMA and the legal and accounting firms in Bermuda has the potential to reduce the cost of doing business within the Island, improve the level of service and provide more accurate statistical reporting.

The Bermuda Connect Association has attracted more than a dozen members, drawn from the private and public sectors and the service providers, with more than 50 new members expected to join as word gets out.

To reach Bermuda Connect, call 296-1830. Its Website can be found at www.paragon.bm PORTABLE POWER -- You can connect to the Internet and send-off faxes or E-mail from almost anywhere in the world. All you need is good portable computer armed with a modem, the proper software, and access to a telephone.

MAKING THE CONNECTION -- Various PC cards have recently hit the market, all geared towards easing the transition to electronic commerce. Above, Actiontec's Commnet, Xircom's credit card modem, and the Optima 56k datafax are leading the parade towards the 21st Century's cashless society.

MINI SUPPLEMENT SUP