During the week of October 14, 2020, the Business Development Agency of Bermuda held the yearly Bermuda Tech Summit focused on Digital Transformation.  The event lasted two days and was perfectly executed using a virtual platform that we have all become so accustomed to. Leaders from all industries participated in the event, and the list of panelists was impressive.

The event opened with the Premier of Bermuda, Hon. E. David Burt and Chamath Palihapitiya, Founder and CEO of Social Capital.  I was impressed with the Premier, who holds a double major in finance and is the youngest Premier Bermuda has ever had.  He is very forward-looking and strives to make Bermuda a place of innovation where digital assets are kept by creating the right framework. The Premiere mentioned that Bermuda functions in much the same way that startups do, with a sense of drive and urgency, while offering transparency and security.

If you need to acquire an IT solution in Bermuda, please let me know and I will put you in touch with one of our solutions resellers on island in Bermuda. It is imperative that you purchase your IT solutions from a local partner to receive the appropriate support form the solution manufacturer.

Part of the discussion that stood out to me was the trinity that enables Bermuda to keep its technological edge.

  • Government
  • Regulator
  • Industry

In creating the right ecosystem to encourage new companies to thrive and grow in Bermuda, the Regulator plays a crucial role in making Bermuda so attractive to technology companies. The Regulator is a group of regulatory authorities that establish the framework customized for specific industries in some cases.

Moad Fahmi, Senior Advisor Fintech at the Bermuda Monetary Authority, is also a very progressive-minded individual.  He states that the BMA offers legal certainty for innovators, allowing them to focus on growth without getting caught up in regulation. This is why Bermuda maintains its international reputation.

Read about the Bermuda Digital Assets Business Act

By regulating the framework for Fintech and the digital assets industry, Bermuda will experience positive outcomes.  It will almost certainly bring new companies and new employment to Bermuda and a large revenue stream for the island.

Bermuda is doing a great job of positioning itself as the best place for Fintech, Insurance and Risk, and Digital Assets companies to set up and thrive.  It is essential that the technology available locally to these new industries and companies be readily available.  We have seen the Fintech industry lean towards HPE SimpliVity solutions for reliability, self-managing, self-optimizing, and self-healing capabilities. The insurance and risk industry relies more heavily on storage solutions such as Primera and Nimble.  The insurance modeling industry has traditionally been oriented towards heavy compute workloads, focusing on HPE Synergy and the Proliant DL580’s.

Westham, an HPE prized distributor,  is fortunate to work with the absolute best local IT resellers companies in Bermuda, who are well equipped to handle everything from small projects to expansive multi-million-dollar infrastructure ventures.  All our partners are sales and presales certified to offer these technologies.  They provide local support, monitoring, and advisory services, which are indispensable for these new businesses.  They can provide rapid solutions by combining on-premises hardware with cloud services.

Bermuda – Safe, Secure and Beautiful

I would be happy to put you in touch with the right local partner based on your requirements.  Contact me here, and i will be happy to do an introduction to the right local IT partner for your need. I hope you enjoyed this summary of the Bermuda Technology Summit 2020.

 

1 Comment

  1. Troy Dort on November 4, 2020 at 10:35 pm

    Great review Pancho. The traditional workloads are evolving and the HPE solutions are doing a great job aligning with the current business requirements in the local market.

    Troy Dort – ACT

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