Roundtable Held On Digital Asset Technology

October 16, 2023 | 0 Comments

The Ministry of Economy and Labour, specifically the Economic Development Department [EDD], hosted the 2nd Fintech Roundtable of 2023, focusing on discussing strategies for innovation adoption, streamlined processes, and local talent integration in the field of financial technology [Fintech] and digital assets.

A Government spokesperson said, “Through the Ministry of Economy and Labour, the Economic Development Department [EDD] has successfully hosted its 2nd Fintech Roundtable of 2023, reinforcing the island’s position as a leader in financial technology and digital assets. Building upon the previous session on June 27th, the latest roundtable spotlighted strategies for innovation adoption, streamlined processes, and local talent integration.

Minister of Economy and Labour Jason Hayward explained, “Conversations throughout the week were enlightening, showcasing Bermuda’s technological advances and highlighting the potential of driving further innovation across FinTech and digital assets. This roundtable wasn’t just about discussions—it’s a commitment to action. We’re charting a roadmap for Bermuda’s digital future, ensuring all Bermudians benefit as we attract more tech giants to our shores.”

“The roundtable focused on strategies to bolster the adoption of cutting-edge technologies in Bermuda. The dialogues delved into immediate applications of technologies for Bermudians. They explored how to simplify processes for global fintech firms, considering Bermuda as their base and emphasising local talent integration.

Premier David Burt weighed in during closing remarks for the roundtable, saying, “Today’s Fintech Roundtable further emphasised the boundless potential of Bermuda to be a technology leader. With steadfast support from the EDD and Minister Hayward’s vision, we welcome and lead change with Bermuda’s global reputation and pioneering spirit. Together, we ensure that Bermuda remains a beacon of innovation, underpinned by unwavering integrity.”

“To ensure a diverse array of insights at the roundtable, the EDD engaged both licensed Bermudian digital asset companies and renowned international entities. Their collective expertise unveiled opportunities for enhancing Bermuda’s FinTech ecosystem.

NEAR Foundation Senior Legal Counsel Abhishek Vaidyanathan, one of the prominent roundtable participants, noted, “We’re excited to have seen first-hand Bermuda’s commitment towards supporting the growth of the digital asset industry. Last week’s events have encouraged us to explore further how the NEAR ecosystem can provide solutions – including digital identity, payments, fan engagement, and many more – to achieve the goals set out in the Fintech Roundtable.”

“The Ministry of Economy and Labour remains committed to strengthening Bermuda’s reputation as a leader in the FinTech sphere. As the digital landscape continues evolving, Bermuda is firmly committed to amplifying its global presence as a premier Fintech jurisdiction while prioritising and nurturing its local talent.”

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