NEW YORK, May 14, 2018 (GLOBE NEWSWIRE) -- Bermudaâs pioneering work to regulate the global blockchain industry was praised by delegates to one of the worldâs largest cryptocurrency conferences, as New York celebrates âBlockchain Week.â
Premier and Finance Minister David Burt, accompanied by National Security Minister Wayne Caines, led a 20-strong delegation from Bermuda to Consensus 2018, a three-day midtown conference running May 14â16 that has attracted more than to 8,000 delegates encompassing a wide array of industries and government entities. The islandâs contingent comprises members of Bermudaâs government, the Bermuda Monetary Authority (BMA), the Bermuda Business Development Agency (BDA), and industry, including several Bermuda law firms.
âItâs gratifying to go to an event like the one today, when people already know whatâs going on in Bermuda,â said the Premier, who also sat down with BBC Online, Bitcoin Magazine, and Coindesk, a news site specialising in virtual currencies which also organises Consensus. âPeople weâve met want to find out more about what weâre doing, how weâre moving forward. We certainly have a story to tellâand a very good one.â
The Premier addressed a full auditorium of attendees before a midday panel on regulation, highlighting the islandâs quick progress to become a global hub for fintech enterprises and innovation through ground-breaking recent legislation to govern regulation of digital assets.
âThe government of Bermudaâall the way up to the Premier himselfâis showing remarkable leadership in the blockchain space,â keynote speaker, author, and Executive Director of the Blockchain Research Institute Don Tapscott said afterwards.
âBermuda is attempting to figure out an environment that enables both an innovation economy and entrepreneurship, on the one hand, and protecting the interests of consumers and investors on the other. Our institute intends to collaborate much more closely with Bermuda in the future,â said Tapscott, a leading authority on the impact of technology on business and society.
Bermuda delegates were deluged throughout the day by inquiries on setting up businesses and launching initial coin offerings from the island. Meetings were held in a Bermuda suite, where a networking reception also attracted entrepreneurs and technologists looking to leverage the islandâs respected regulatory environment and sophisticated infrastructure.
âItâs impressive to see the volume of people who have come through our meeting suiteâsince the speech, it has been non-stop,â said the BDAâs Head of Business Development Sean Moran. âIâve talked to dozens of groups that want to launch their ICOs out of Bermuda, they want to establish service provider companies in Bermuda that would help support the growth of our digital asset industry. Everyone is excited by what they view to be a jurisdiction that would offer a positive and welcoming environment for new businesses in the blockchain space.â
Consensus continues tomorrow, with the Premier slated for interviews with Nasdaq and Bloomberg Radio, among other media. The Bermuda group will also visit the New York offices of law firm Norton Rose Fulbright to give a presentation on Bermudaâs economy and the islandâs innovative approach to business over many decades.
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