Published On: Fri, May 4th, 2018

BITT founder to advise Bermuda government on digital currency

burt-and-abed-on-digical-currencyHAMILTON - The founder of the Barbados-based financial technology firm Bitt will be a digital currency consultant and adviser to the Bermuda government.

Premier and Minister of Finance David Burt made the announcement yesterday, before signing an agreement with the digital assets and blockchain technology expert, who is also founder of the British Virgin Islands-based Digital Asset Fund.

Burt said he met Abed earlier this year, but had been following his work long before then.

“Mr Abed is a recognized Caribbean authority on digital currencies, math based protocols and blockchain technology. I am pleased to announce that Mr Abed has agreed to provide his advice and expertise to the Government of Bermuda on digital assets and blockchain technology,” the Premier said.

“The significance of the agreement is that Mr Abed brings his extensive knowledge to Bermuda at no cost to the tax payer. I am extremely grateful to have his expertise as Bermuda moves forward with our Fintech strategyAbed said signing the agreement with Burt was a proud moment for him.

He said he would be an asset to the Bermuda government, noting that he was one of the first to engage regulators, governments, Central Banks and monetary authorities in the region on blockchain technology and digital currency.

“I believe that through my deep understanding of the regulatory environment and cryptographic systems, along with the deep network that I have within this field, I can bring all of those resources to the Bermuda government to ensure that the future of blockchain technology is defended against and regulatory clarity is provided for that,” he told reporters after signing the agreement with Burt.

Photo: Bermuda’s Premier and Minister of Finance David Burt (right) looks on as Bitt founder Gabriel Abed signs the agreement.

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