Minister Attends Fintech Conference In Barbados

January 29, 2024 | 10 Comments

Minister Jason Hayward attended the second Fintech Islands Experience 2024 [FIX 2024] held in Barbados from January 24th – 26th, 2024.

A Government spokesperson said, “Widely attended by entrepreneurs, regulators, lawyers, policymakers, and financial services professionals from various jurisdictions, the conference featured over 125 speakers and welcomed over 800 attendees.

“Minister Hayward participated in a panel discussion on ‘Advancing Blockchain as the New Technology of Trust: Navigating the Law and Finding the Right Regulatory Balance’ alongside esteemed co-panellists:

  • Nicky Gomez, Senior Partner at XReg Consulting
  • Aaron Grinhaus, Founder of Grinhaus Law Firm
  • Ronan Kuczaj, Founder at DLT Solutions
  • Tara Frater, [Moderator] Founder at FT Legal

Minister Jason Hayward FIX January 2024

“The panel discussion focused on the need for regulation to support new industries and emerging financial services underpinned by technology.

“Fintech Islands continues to be an event that brings financial technology to the forefront of economies within the Caribbean region and worldwide.”

During the discussion, Minister Hayward “highlighted Bermuda’s value proposition as a sophisticated jurisdiction for businesses to thrive,” stating, “Collaboration between government, financial services regulators, and industry is the cornerstone of effective regulation.”

Minister Hayward emphasized, “Bermuda distinguishes itself as a leading jurisdiction due to its regulatory clarity and effectiveness, strong legal system, and solid reputation. Its well-defined regulations reduce compliance risks and provide a growth-friendly environment. The Bermuda Monetary Authority’s effective team of regulators ensures consumer protection and provides clear guidance. Furthermore, its compliance with international standards and recognition as a thriving financial services centre enhance its reputation.”

The Government spokesperson said, “Bermuda will continue to foster a regulatory framework that promotes innovation, financial stability, consumer protection, and overall better economic health within the ever-evolving financial services landscape.”

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Comments (10)

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  1. Ringmaster says:

    Out of his depth and so embarrassing. Talking to a mother with 2 kids this weekend. Selling up and moving to the UK as too expensive to be here with children. Knows of several others.
    Way to go PLP.

  2. Steve says:

    Another wasted trip

  3. Roger says:

    My days, I’m not sure we should be sending him overseas.

    I would have thought that an ability to articulate would be uppermost, a skill he clearly does not have.

    • Sanga says:

      Wow, couldn’t agree more.

      They let Heyward speak overseas? What must they think of us. The guy can barely string a sentence together.

  4. Joe Bloggs says:

    “Minister Hayward participated in a panel discussion on ‘Advancing Blockchain as the New Technology of Trust: Navigating the Law and Finding the Right Regulatory Balance’ alongside esteemed co-panellists”

    Good grief. After Minister Hayward has repeatedly demonstrated a lack of even the most basic elements of economics you send him overseas to speak about finance?

  5. Hilarious! says:

    Someone please correct me if I am wrong but has the Bermuda Government implemented anything using blockchain technology? I went to one of these fireside chats a few years ago and found it laughable.

    • Joe Bloggs says:

      We do not know whether the PLP Government is trading in any cryptocurrency.

      What we do know is that cryptocurrency such a Bitcoin and Ethereum and others are loved by those seeking to launder their money because they are virtually untraceable.

  6. Hilarious! says:

    The question was: “has the Bermuda Government implemented ANYTHING using blockchain technology?”

    Yes, cryptocurrencies do use blockchain technology for transactions but my question was broad. For example, blockchain-based: a land records system. a voter registration system. a patient health record system. Blockchain technology is supposed to validate and secure transactions/records.

    Implementing a blockchain-based voter registration system would be an easy win for the Government to demonstrate the implementation of the technology and the value of blockchain to validate records. Perhaps Mr. IT could take a break from his international travels and champion an implementation.

    • Joe Bloggs says:

      There was discussion at one time of basing our Land Title Registration system on blockchain technology, but that has not happened.

      • Hilarious! says:

        I know. Land records are messy and a mistake might take years to find with lawsuits to follow. Voter registration is less litigious, the records are well kept and data validation against a few other databases is much simpler.

        Plan to succeed with minimal problems. That gets a win. So simple even Mr. IT could do it. (sarcasm)

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