Town Hall To Be ‘Introduction To Blockchain’
Minister of National Security Wayne Caines held a press conference regarding tomorrow’s [May 31] Blockchain Town Hall Meeting, saying “it is no secret that this Government has made a significant impact on the world stage with our bold entry into the world of fintech.”
Minister Caines said, “The Ministry of National Security will be hosting a very special town hall meeting this Thursday, May 31st – Blockchain for Beginners. This free public event will take place at the Pier 6 complex on Front Street, in the City of Hamilton at 6PM. It is no secret that this Government has made a significant impact on the world stage with our bold entry into the world of fintech.
“We have attracted the best and brightest in the blockchain sphere to Bermuda with early stage MOU’s and investments totaling over $20 million dollars. We have garnered significant international media coverage of our innovative approach to this industry – and we have led the charge for Governments the world over.
“We have set the stage so that local tech-re-preneurs such as Trunomi, can partner with international blockchain behemoths such as Shyft international. We are pleased that the Compliance Headquarters of the largest digital exchange, Binance has now chosen to be domiciled in Bermuda. What’s more we have secured solid commitments to build out Bermuda’s technology education infrastructure over the short to mid-term.
“But today….we’d like to close the circle, and connect with everyday Bermudians who may not be au fait with the power and potential of Blockchain, Fintech and the world of Digital Assets. Our town hall meeting is an open event that will serve as an introduction to the world of Blockchain as it relates to Bermuda and Bermudians in particular.
“We have a lineup of industry experts who aim to break down blockchain for the masses. We will explore the basics of the technology with Bermuda tech guru, Richard Augustus.
“Startup Founder and Bermuda Business Development Agency consultant, John Narraway will join the panel sharing his insights into the new technology. Glenn Simmons, a young blockchain enthusiast will share his perspective on the potential opportunities and impact of the technology for Bermuda.
“We will explore what the Digital Asset Business Act, scheduled for debate in the house on Friday June1, will mean for the island and answer questions that the public may have. Thaao Dill of the Bermuda College, will act as our moderator for the evening.
“It is difficult to restrain my enthusiasm for what this emerging industry will mean for Bermuda, our economy, the local job landscape and of course for our education and our young people. But beyond that…Fintech Bermuda seeks to be the epicenter of the global Fintech ecosystem.
“We have learned that Blockchain technology is more than just a revenue generator, it is a tool to change the world, provide access to resources, assets, and empower individuals.
“With our strategic plans for the industry, we seek to create a space, a whole island innovation hub that will create solutions that positively impact our world. Again, we invite you to join us this Thursday, at Pier 6 at 6pm on Thursday for an engaging, interactive meeting with industry experts that we hope will expand your understanding of Blockchain for Bermuda.”
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How many jobs will be created for Bermudians? This has never been explained and from the technology involved it is likely to be very low, and not any benefit to unemployed Bermudians. How is the PLP going to address the lack of jobs except for expats? They campaigned on “Bermuda for Bermudians” but where are the opportunities? Where is the Peoples Campaign in all of this?
Over 70 jobs have already been created in Bermuda by Blockchain technology. Have you not been listening to the Premier?
You’d have to be a real sucker to believe that.
It’s 70 jobs ‘promised over the next three years’. Maybe.
So that means whatever you want it to mean, but it does not mean that 70 jobs ‘have already been created’.
*removes tongue from cheek*
Cryto-currencies are really commodities like oil, gold, coal etc. and blockchain is a really fairly new Proof of Work technology sometimes referred to as Internet 3.0 which is quite often being used to scam innocent people who “fear missing out on the new BIG THING”…
Cryto-currencies are not and can never be a commodity. Commodities are physical assets that can be used physically like you said oil, gold, coal etc. All of these can be used as physical resources blockchain can’t.
Blockchain can’t even be considered the new internet because it’s code can only be used for ledger type functions. It’s code can’t produce a graphical user interface or run much of what goes on in the internet’s background. It’s all hype that will fizzle soon enough. Already the main cryptos like bitcoin are having a hard time holding resistance against short selling. No country is going to give up their currency over crypto.
CAn someone explain to me what the Minister of Security is doing introdcing Blockchain?
Department of e-Commerce falls under his Ministry
Biggest con job the World has ever seen.
A few will make money, most will not.
How do you create legislation that’s fair for every future application to be built on a decentralized distributed immutable computer?
Do these laws just cater to the players currently involved?
ICOs were happening here anyway. I support the swift creation of regulations, but I am concerned that MOUs were signed before the regulations were tabled.
That’s what MOUs are! They state intent and potential outcomes. They are not binding contracts in any way but can be used to set the tone for actions! Read a book and stop crucifying people who want to go on the record with their good intentions and to openly engage us all versus doing things behind the curtain. The media crucified a local firm over a gaming MOU with the OBA only to find that they were actually Bermudians and philanthropic and intent on giving the vast majority of profits to charity. That was smart on the OBAs part. Now we have you suggesting that there is something untoward about this new Bitcoin industry for Bermuda and the act of the PLP signing MOUs? I would rather know someone’s intentions and then judge them on the outcomes and actions than not knowing up front. Some of these MOUs suggest education and philanthropic action which is something we really need to help educate our workers and children and some are giving back to charities instead of political cronies. Governments sign MOUs everyday. It’s not a mystery. Peace be the journey!
Zero impact thus far.
Zero.
Just a bunch of talk.
What is the people’s campaign doing ?
We have not heard about mold in schools
Perhaps it’s time for a march against the new police commisioner
Did Tweed get his status?
It will be sorted tomorrow- she will be back to wind up the island
Play the lottery, you will be better off.