Proof Of Trust Applaud Arbitration Centre Plan

August 11, 2020 | 2 Comments

Proof of Trust Bermuda congratulated the Bermuda Government on the ground breaking ceremony for the Ottiwell Simmons International Arbitration Centre, saying that an “arbitration centre will provide existing and future partners with yet another reason to do business in Bermuda.”

A spokesperson said, “The Proof of Trust Bermuda, a globally patented smart contract validation and issue resolution technology company, is focused on deploying innovative technology in Bermuda.

“Because of the progressive stance and commitment to technology taken by the Bermuda Government, the island is an ideal location for technological development.

“Premier David Burt welcomed The Proof of Trust to the country, saying: ‘I am pleased Proof of Trust has decided to set up an office in Bermuda. I also congratulate Bermudian, Mr. Kevin Richards, on his appointment as the Bermuda CEO.”

Mr Richards and Premier Burt:


“Interconnected smart contract solutions will greatly enhance Bermuda as an international business jurisdiction. As an advanced economy, Bermuda already boasts world-class infrastructure, some of the highest regulatory standards on the planet and a highly skilled workforce that makes it a great place to conduct business.

“The adoption of smart contract technology will enable business to be conducted seamlessly and securely across public and private sectors, bringing a technology solution to dispute resolution.

Bermuda-based CEO Kevin Richards applauded recent developments by the Bermuda Government: “We congratulate the Bermuda Government on the breaking ground ceremony for the Ottiwell Simmons International Arbitration Centre on 28 July 2020. This development shows commitment to becoming a central hub for international arbitration and dispute resolution in the North Atlantic region.

“As one of the world’s leading international financial centers, it is important to have purpose built infrastructure for local and international partners to operate in, and an arbitration centre will provide existing and future partners with yet another reason to do business in Bermuda.”

“The Proof of Trust looks forward to working with Governments and businesses in the region to implement this groundbreaking technology which provides assurance of all smart contracts, dispute resolution and data verification.”

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Comments (2)

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  1. Recovery on the Rock says:

    Could Proof of Trust Bermuda provide their services for funders eager to eliminate the very expensive administrative expenses found in many of our local charities and offer direct funding to our people who are suffering? It is time to abandon our colonial, self-serving and dominant power systems of distributing help – where only a small portion of donated money gets directly to the people in need.

    It’s time to eliminate the annual administrative and salary expenses of our Bermuda Community Foundation – with no direct services and only two full time staff that is a lot of money.

  2. Donderered says:

    Has anyone said it is a bad idea? No. Has anyone asked for financial details? Yes. Has anyone asked why it was not tendered? Yes.

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