Hashtag: #ChrisGarrodColumns
Column: AI Ethical, Societal & Technical Concerns
[Opinion column written by Chris Garrod] Generative AI, and primarily ChatGPT-4 [and now even more so ChatGPT-4o], developed by OpenAI, represents a significant leap in natural language processing and artificial intelligence. Its ability to generate human-like text has opened up many applications, from content creation to customer service automation.... Read more of this article
Column: The Fintech Flexibility Of Bermuda
[Opinion column written by Chris Garrod] After less than two years, the island’s core digital asset laws are being amended. Bermuda’s new Digital Asset Issuance Act 2020, which became effective on May 6th, 2020, comes soon after the introduction in 2018 of two fundamental pieces of Fintech legislation. First, we had what is commonly called Bermuda’s... Read more of this article
Column: Working To Build A Digital Economy
[Opinion column written by Chris Garrod] How easy is it to build a digital economy? Bermuda has worked to be a major player in a Fintech revolution. Is it? Fintech and Bermuda. I’m sure you have all read many articles over the last few years and seen much press regarding the rise of Fintech vehicles forming on the Island. They haven’t formed at... Read more of this article
Column: Credit Cards, Fintech & Job Losses
[Opinion column written by Chris Garrod] “Do You Take Credit Cards?” When did you last hear someone say that? If I had to guess, for most people, perhaps 2 or 3 years ago. Perhaps at a cafe, in a taxi? But it is unbelievably rare now. Bermuda’s oldest bank, The Bank of N.T. Butterfield & Son Limited, announced two weeks ago that it had to... Read more of this article
Column: Looking At Island’s Digital Asset Plans
[Opinion column written by Chris Garrod] A look into how a 21 sq mile island opened its door to digital asset business It’s called The Digital Asset Business Act 2018, which doesn’t really sound that interesting, I suppose. But, yes, it is. The Act introduced the concept of digital asset businesses setting up and being regulated in Bermuda. Creating... Read more of this article
Column: Crypto Banks & Digital Transformation
[Opinion column written by Chris Garrod] Bermuda’s Banks and Deposit Companies Act was amended in August 2018. While the amendment legislation is less than three pages long, the amendments should be far-reaching. Its provisions permit the creation and/or licensing of a new category of Bermuda bank to be regulated by the Island’s primary regulator,... Read more of this article
Column: Looking Forward At Fintech In 2019
[Opinion column written by Chris Garrod] In 2018, the Bermuda Government had a very busy year passing Fintech legislation, paving the way and laying the groundwork for future jobs and digital growth. Essentially, the Island was undergoing the process of digital transformation in the financial sector. But benefiting from the fruits of all this effort... Read more of this article
Column: Bermuda & Digital Assets A Busy 2018
[Opinion column written by Chris Garrod] The beginning Looking at it from a Fintech perspective, 2018 was both a formative and busy year for Bermuda. It primarily started back in January, 2018. The Premier and his Minister, Wayne Caines, along with representatives from the Bermuda Business Development Agency attended the annual World Economic Forum... Read more of this article
Column: ‘At Beginning Of A Digital Revolution’
[Written by Chris Garrod] “Do you accept crypto?” I work in the services industry and it was an email from a client. I immediately responded “no, sorry” as I knew my firm didn’t. But we should. It won’t be very long before the words “Do You Accept Crypto?” will be so common place, they will be as common as, “Do you take cards?” There... Read more of this article
Column: FinTech, Blockchain, ICOs, Currencies
[Written by Chris Garrod] On November 22nd 2017, Bermuda’s Premier David Burt, held a press conference regarding the potential impact of blockchain on Bermuda’s economy. In summary, he said that the Island was going to look at blockchain opportunities as a new aspect of its overall economic plan, seeking to attract initial coin offering [ICO] and... Read more of this article
Column: Insurtech, Demystifying The Hype
[Opinion column written by Chris Garrod] I work in the reinsurance world. Wait don’t leave. Specifically, I work in the legal sector, and for whatever reason, it always feels like conference and/or event season. And I’ve been to a number of insurance and reinsurance related events/conferences lately. And every single one has had one panel [some... Read more of this article
Column: The ‘Internet Of Things’ Is Taking Over
[Opinion column written by Chris Garrod] On February 9th, 2018, Apple suddenly woke up and finally released the HomePod. What is it? It plays music and, assuming your house and all its gadgets are connected using Apple’s HomeKit ecosystem, it will let you control them via Apple’s intelligent assistant, Siri. It can tell you what the weather or... Read more of this article
