Bedell Cristin explains and explores blockchain over breakfast

04 Apr 2017

An early start on Tuesday 28 March did not deter an audience intrigued to learn more about the emerging blockchain technology and the opportunities on offer for Guernsey.

Spanning Guernsey's finance, banking, insurance and technology sectors, over 50 attendees packed into the Digital Greenhouse in St. Peter Port to hear a panel of speakers explore blockchain from different perspectives at an event hosted by Bedell Cristin.

Bedell Cristin Guernsey Associate Marc Piano commenced by providing a much-welcomed explanation for total beginners of what blockchain is, how it works and some of the legal and regulatory issues to consider; PwC's Tony Corbin and William Woodruff moved on to explore real-world uses of blockchain and emerging developments; Steve Chandler from the Guernsey Financial Services Commission introduced the Innovation Soundbox as a means by which prospective innovative or start-up financial services businesses can engage with the regulator; and Gareth Jones, Director of Business Innovation and Skills for the States of Guernsey wrapped up by unveiling the States' Digital Sector Strategy, by which the States aim to drive economic growth by investing in the digital sector.

Speaking after the event, Kate Ovenden, Managing Partner of Bedell Cristin's Guernsey office, commented:

"Blockchain is an exciting new technology with the potential to streamline the way in which businesses store, share and protect data, which can in turn transform how they operate in the future. Guernsey is already attracting international attention in the space through pioneering use of blockchain technology in the industry, and we at Bedell Cristin are monitoring this rapidly-evolving technology with great interest, so that we can help our clients looking to use or conduct transactions via a blockchain or cyptocurrency to understand its potential, as well as the legal and regulatory issues to consider."