A Vision for the Future: The Bermuda
FinTech Story

In order to advance the types of innovations we have discussed throughout
the book, it will require the commitment and collaboration of governments,
technology firms, and academic institutions. This collaboration could lead to
sustainable economic growth and the betterment of our overall society.
We are at a pivotal point in our history where through advances in technology we have been given both the gift and the responsibility of massive amounts
of data and the tools to interpret and create new frontiers in many fields.
Cryptocurrency is one of the most talked-about advances. Technology has
enabled access to create and trade digital currency and put the opportunity to
participate into the hands of the public in a decentralized and not fully regulated manner.
At its core, the government has the responsibility to protect its citizens, to provide parameters for behavior, and to provide for their well-being. In that vein,
it is a government that records and stores the recordation life’s most basic and
fundamental events and occurrences.
When a child is born, it is a government that provides the birth certificate.
When that same child becomes an adult and purchases a home, purchases a car,
votes in elections, and possibly gets married, it is a government that records and
stores that data. Finally, when that same person passes away, it is a government
that issues a death certificate.