Carey Olsen Sponsors 5th Annual Tech Summit

May 31, 2024 | 0 Comments

Carey Olsen sponsored Bermuda’s 5th Annual International Tech Summit from April 29 to May 3, highlighting its dedication to the island’s digital sector through initiatives like the Carey Olsen Crypto Cafe.

A spokesperson said, “Carey Olsen proudly celebrates its role as a platinum sponsor of the 5th Annual International Tech Summit held in Bermuda from 29 April to 3 May 2024. The Summit, organised by Penrose Partners, a digital asset advisory firm familiar with the Bermuda legal and regulatory regimes, and presenting partner The Near Foundation and Protocol, is an annual event established to encourage and promote collaborative conversation around Bermuda’s contribution to the future of technology and innovation as a jurisdictional leader in the digital asset sector.

“The Summit brought together visionaries, industry leaders, and innovators from around the world to explore the latest advancements in digital assets, blockchain technology, and fintech solutions. As a platinum sponsor, Carey Olsen showcased its commitment and contribution to the promotion of Bermuda’s digital landscape development and fostering innovation through understanding and compliance with Bermuda’s digital asset legal and regulatory regime.

Carey Olsen 5th Annual International Tech Summit Bermuda May 2024

“New this year was the Carey Olsen Crypto Cafe, a collaboration between Carey Olsen and Rock Island Café, a local café and coffee roasting company, that provided the opportunity for attendees to experience the world of digital payments through an engaging activation powered by Mintbase, the leading wallet in the Near ecosystem. Through Mintbase, attendees seamlessly transacted with test NEAR tokens to experience the future of blockchain based digital payment systems firsthand. The activation was executed by Penrose Partners under an exemption afforded by the Digital Asset Business Act, which forms the basis of Bermuda’s legal and regulatory regime governing the provision of digital asset services in and from Bermuda.”

Steven Rees Davies, partner at Carey Olsen Bermuda Limited said, “Seeing a digital asset payment system deployed and operational in a closed testing environment, and proving the capability of how such a system could work for the purchase of everyday items like coffee proved to be a hit with attendees. The activation by Penrose Partners was evidence of Bermuda’s commitment and ability to encourage entrepreneurial development and implementation of technology in a practical and regulated manner.”

Lisabet Outerbridge, managing director at Rock Island Café said, “Rock Island is a cash-based business. We don’t use credit cards due to the fees and inability to have a minimum charge amount, so it was exciting to benefit from a digital payment option. I think small businesses will really find it a great option.”

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