Comments on: Bill To Create FinTech Development Fund

By: Rocky5

Rocky5 — Mon, 18 Jun 2018 00:24:26 +0000

Let’s be honest, with a Bermudian population of about 50,000, there is no way that we can provide the numbers of mathmeticians, coders and analysts needed for this new highly technical, complex industry. Our education system is poor. These international companies that are agreeing to train Bermudians will be used to having a much larger & better educated pool of potential trainees/staff. So they will need Work Permits for most of the top poitions

By: Ringmaster

Ringmaster — Sat, 16 Jun 2018 13:15:13 +0000

Starting with training and paying MPs so they can understand what FinTech is.

By: Angus

Angus — Sat, 16 Jun 2018 08:56:08 +0000

Probably placing the money into the fund, right? Not too transparent about what is happening and how the MOU money connects to the fund money though.

But more importantly doesn’t this whole fintech programme of the Premier feel like the IB journey? It does to me and it seems the Premier is following a playbook from that industry, up to and including plans to develop Bermudians. But look at how that turned out for Bermudians decades later after giving away the ownership and senior roles to non-Bermudians in order to get the businesses on island.

Possibly could make a case in insurance as it was an older industry. But fintech is globally a new industry, and Bermuda is a leader in the area. There is no reason why Bermudians shouldn’t be owners of fintech companies. Unless of course Bermudians themselves do not have any trust in the process anymore and simply are content to be employees.

Also what I am seeing is, with the exception of the one company that is everywhere and very cozy with the government, the next gerneartion of Bermudians are simply being setup to be employees, and the current generation of Bermudians are being overlooked.

So much for Bermudians first when it does not include all Bermdudians irrespective of which generation they represent.

By: Joe Bloggs

Joe Bloggs — Sat, 16 Jun 2018 08:38:50 +0000

“I am pleased to advise this Honourable House that today the Government will introduce a Bill that will create a FinTech Development Fund for the specific purpose of holding funds to be used to invest and train Bermudians in the disciplines needed to support a FinTech economy.”

And since this government is open and transparent every penny of that money will be openly accounted for!

By: WSP

WSP — Fri, 15 Jun 2018 21:41:54 +0000

Correct me if I am wrong but aren’t the MOUs they signed giving money to educate people