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09 February 2017

Conference aims to address how blockchain technology could change the world

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The States of Guernsey, Carey Olsen, Northern Trust and Sure are hosting Guernsey’s first Blockchain Technology Conference to explore how blockchain technology could change the world as well as what it means for the future of local businesses in Guernsey.

The States of Guernsey, Carey Olsen, Northern Trust and Sure are hosting Guernsey’s first Blockchain Technology Conference to explore how blockchain technology could change the world as well as what it means for the future of local businesses in Guernsey.

Expert FinTech speakers from different business sectors will be presenting the opportunities and risks for local businesses as well as exploring where the technology is already having an impact in global financial services. 

Blockchain technology provides an entirely new and secure platform for the controlled administration of assets, whether data, money, art, diamonds or property. The conference will address how new projects from local and startup companies are disrupting the traditional areas of Know Your Client (KYC), payments and asset registers which underpin so many of the activities provided by Guernsey's financial sector. 

The States Committee for Economic Development digital lead, Deputy Andrea Dudley-Owen said: "We are tremendously proud to showcase the technical expertise and innovation of local companies who will discuss their exciting projects. In addition we will hear from some startup companies who are already using blockchain to challenge traditional ways of doing business".

The conference will appeal to anyone from the trust, insurance and fund management industries interested in better understanding how blockchain technology could benefit their businesses in the future.

Sure and Northern Trust have innovative initiatives involving blockchain underway and will be setting the scene for opportunities using the technology.

Sure chief enterprise architect, James McEwan, said: “Guernsey has long been involved with innovation in the Finance Industry and blockchain has the potential to transform business operating models in the long-term and the insurance industry could be one of the principal beneficiaries. Sure is pleased to support this event as technology is our passion and we’re always keen to help the business community understand the latest technological developments and how they could benefit local industries.”

Northern Trust product manager, Stuart Lawson, said: “At Northern Trust, we believe that blockchain has the potential to drive major industry-wide improvements. This is why we are taking a leadership role in a number of industry, regulatory and technology initiatives around the technology, ensuring we explore potential benefits for our clients and the industry.

"The Blockchain Technology Conference is a great opportunity to discuss this rapidly evolving technology and provide a greater level of understanding around blockchain, its applicability and the value for local businesses in Guernsey.”

Carey Olsen has been at the forefront of the FinTech developments in Guernsey and is keen to help clients break through boundaries through implementing new solutions successfully.

Carey Olsen counsel, Richard Field, will outline how the group sees its clients working with this exciting new technology and what it means for local businesses, accountants and other law firms. 

“This new technology will change the landscape of how financial services businesses operate. It presents Guernsey with a real opportunity to lead the field by continuing to innovate and adapt in this area. Such technological progress also brings new legal challenges, so it is important that those creating and investing in these technologies are aware of these issues,” said Mr Field.

“We hope this conference will help put Guernsey on the map for cutting-edge technological developments."

This free event will take place at St Pierre Park Hotel on 2 March. Eventbrite registration details are available HERE

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