CyDEC explores latest trends and the future landscape of the digital economy

The 2nd annual Cayman Islands Digital Economy Conference recently welcomed over a hundred delegates to the Kimpton Seafire Resort & Spa to discuss fintech, blockchain, cryptocurrency, digitization of education, ICO’s and what it all means for the future of Cayman’s digital economy.

Acting Premier Hon. Moses Kirkconnell opened the conference saying Cayman is the jurisdiction of choice for financial services, fintech and digital services and highlighted how the Cayman Islands government is working to keep up with the evolving technology.

Minister of Financial Services, Hon. Tara Rivers touched on the importance of the digital economy to the Cayman Islands and how the Ministry is working to strengthen the jurisdiction in a manner consistent with our reputation as a global leader in financial services.

A day after the announcement of Facebook’s own digital currency, Libra, Justin Fisher, CEO and Co-Founder of VeriBlock gave a fascinating presentation on the pros and cons of this system and how this will allow billions of users to make financial transactions across the globe in a move that could change the worlds banking system.

With the dramatic highs and lows of the cryptocurrency landscape in recent years, Nolan Bauerle, writer and researcher at CoinDesk delved into the current cryptocurrency climate and discussed how far the digital economy has come, finishing on a discussion around AI and how it will impact our lives.

As the integration of digital technology becomes apparent in our everyday lives, Kwaku Aning, Director at Center for Innovation and Entrepreneurial Thinking discussed how the digitisation of education practices can both improve and hinder our children’s way of learning as we move from ‘old school’ to ‘new school’ systems.

ICO’s remain an opportunity for international financial centres, such as the Cayman Islands according to Ravi Bahadursingh, Barrister at Chancery Lane Chambers, who explored how these risks can be manged and where this structure is headed in the future.

Expert panels featuring international and local experts focused on how regulators should manage the risks associated with fintech and what the future of the digital economy might look like and how our lives are being ‘disrupted’.

The conference also brought together students from local schools that recently competed in the Dart Minds Inspired “Rover Ruckus” challenge to discuss the importance of this programme in Cayman and demonstrate their fascinating robotic creations.

Conference organiser and Director of FTS, Paul Byles, said, “The speakers for this year’s conference truly captured what the digital economy signifies and how these developments will impact our way of life and the way we do business in the Cayman Islands.”

Thanks to the support of conference sponsor, Cayman Tech City, ten young students were invited to to attend the conference who had expressed an interest in technology through the CEC “Summer in the City” internship programme.

“With an eye to the future, Cayman Enterprise City is inspiring the next generation to pursue technology-driven careers by connecting students with the experts, supporting forward-looking programs like CyDEC and providing engaging learning opportunities within Cayman’s special economic zones,” explained Kaitlyn Elphinstone, VP Marketing Cayman Enterprise City.

“The second annual Cayman Islands Digital Economy Conference was once again a huge success and I am grateful to the speakers, sponsors and delegates who attended without which this conference would not be possible,” said Mr Byles.

CyDEC would like to thank its sponsors Ministry of Financial Services, Ministry of Commerce, Planning & Infrastructure, Tower, EQI, Ministry of Commerce, Cayman Tech City, Veriblock, Health City, Cayman Islands Chamber of Commerce, Ministry of District Administration, Tourism & Transport, Digital Cayman, Deloitte, Pinnacle Media and Hurley’s Media.

For more information on the conference visit www.cydec.ky.