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Alternative Market Briefing

Bermuda has potential to be a center for crypto-assets and ICOs

Wednesday, January 03, 2018

Komfie Manalo, Opalesque Asia:

Bermuda has a great opportunity to become a leader in the quickly growing blockchain space for a number of reasons, including a tech-friendly government, location, and infrastructure. Sean Moran, head of Business Development at the Bermuda Business Development Agency said that Bermuda's Premier David Burt has received numerous feedbacks that the island could become the center of crypto-assets and ICO.

Bermuda's Premier Burt himself has a technology background, and his administration is very interested in focusing on technology and particularly, FinTech-related opportunities for Bermuda, Moran told participants of the latest Opalesque Bermuda Roundtable.

An additional reason Moran cited that would give Bermuda the advantage is the island's "positioning in the North Atlantic, between Europe and North America" that makes the island "a great location for transatlantic business."

He stated, "This has always been an advantage for our international business sector generally, but also the fact that we're connected by fiber optic cables to both sides of the Atlantic allows us to boast a technical infrastructure that other small islands just don't have. This bandwidth is, of course, critical if we are to host more tech companies and be a center for crypto-assets and ICOs in th......................

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