News Release: HAMILTON, Bermuda, October 20, 2020 — The 2020 Bermuda Tech Summit, which took place online from October 14-16 as part of Bermuda Tech Week, concluded a thought-provoking three-day event with discussions on digital transformation in the face of COVID-19 and the accelerated pace of change.
The summit attracted more than 700 attendees from 36 countries and featured more than 50 global business leaders, including Social Capital Founder and CEO Chamath Palihapitiya, SAP Co-Founder Hasso Plattner, the World Economic Forum’s Sheila Warren, Fortune editor-in-chief Clifton Leaf and Gemini Head of Risk Yusuf Hussain.
Bermuda Premier David Burt noted the critical importance of embracing and facilitating innovation.
“The companies and countries that innovate today will be the ones that succeed tomorrow,” he said. “Bermuda remains fully committed to being at the forefront of global commercial trends, particularly when it comes to the financial services industry, and helping both established organisations and start-ups realise the opportunity that innovation presents, as this summit so clearly demonstrated.”
Roland Andy Burrows, CEO of the Bermuda Business Development Agency (BDA), which hosted the event, said: “As our attendees learned, the BDA stands ready to facilitate the all-important connections and relationships between government, industry, and the regulator, to help boost development and create an ideal environment for innovation across sectors. I would like to thank our sponsors for supporting us in hosting our first virtual Tech Summit. Special thanks goes to the Global Blockchain Business Council and HubCulture, whose input ensured an engaging and timely dialogue on key topics and trends. We look forward to contuining the conversations and connections that were made during this event.”
The panels brought together business experts from a variety of fields to share their insights on the most pressing issues facing their industry, from insuring digital assets to the rise of private wealth in tech to the future of remote work.
The digital transformation of finances was a central theme throughout the summit, with experts noting that the digital revolution is just beginning. Henry Arslanian, PwC Global Crypto Leader, said that we are privileged to be living in the most exciting time in the history of finance and money, which is primed to undergo generational changes.
Other experts noted the need for a thoughtful regulatory environment, not a one-size-fits-all approach, to help further innovation together with the ability to have informed regulatory conversations, something which can be done in Bermuda.
Sandra Ro, CEO of the Global Blockchain Business Council, spoke about the current gap in the market for insuring digital assets and the opportunity that exists, particularly for Bermuda given the global role of its insurance and reinsurance industry, to address demand.
The summit concluded with a discussion of the future of remote work, a timely topic as millions around the world have transitioned to working from home for the foreseeable future. Aligned with this growing trend, Bermuda is now offering the Work From Bermuda Certificate, which allows approved individuals to live and work from Bermuda for one year — with the potential to renew.
The Bermuda Business Development Agency thanks the Tech Summit’s sponsors for their support, including Appleby, Bittrex Global, HubCulture, Global Blockchain Business Council, Gosling’s, Jewel, Salt Technology Group, Walkers, Crosstower, Stablehouse, and XBTO.
Please contact our office for more information on the 2020 Bermuda Tech Summit.