Premier and Minister of Finance, Dr. The Honorable D. Orlando Smith, OBE has stated that his Government understands that it must embrace technology if it is to remain relevant and competitive.

Premier Smith while addressing the opening of the British Virgin Islands FinTech Immersion Conference on Monday, July 23 said his Government has been laying the ground work over the years through research, policy development and consultation to use the infrastructure, experience and expertise from the main industries and related services to chart a more diversified economic course for the Territory.

The two-day conference was being held as a result of a visit to several Asian cities in June wherein the Premier and his trade delegation witnessed the transformational power of technology in that part of the world. The Premier said that well deployed and implemented technology can also help the Territory to leap ahead with its recovery and development and added that it is an opportune time for a course on financial technology to be presented in the Territory.

In his remarks Premier Smith said, “Judging from the diversity of the audience today, I know that you share this understanding too. I am happy to see participants ranging from students through to civil servants, the wider business community and tourism, and financial services industry professionals, not only from here in the Virgin Islands but also from the Eastern Caribbean.”

The conference was hosted by the Government of the Virgin Islands in collaboration with the private sector and was facilitated by Associate Professor Keith Carter of the National University of Singapore (Computing), who has also worked for Fortune 500 companies such as Goldman Sachs (a leading global investment banking, securities and investment management firm).

Registered participants engaged in strategy development, monetising data, blockchain, artificial intelligence, crypto currency, cybersecurity, and wealth and job creation.

The conference was held at the Eilene L. Parsons auditorium, H. Lavity Stoutt Community College (HLSCC) on July 23 and 24.