A “blockchain for beginners” town hall meeting will be held place in Hamilton tomorrow.

A number of experts in the field will provide insights into the technology that is being embraced by the Bermuda Government as a potential new economic sector for the island.

The free event takes place at Pier 6, on Front Street, starting at 6pm. Among those taking part are Richard Augustus, a business and marketing adviser; John Narraway, a start-up founder and Bermuda Business Development Agency consultant; and Glenn Simmons, a young blockchain enthusiast who will share his perspective on the potential opportunities and impact of the technology for Bermuda.

The meeting will also look at the Digital Asset Business Act, which is due to be debated in the House of Assembly on Friday.

Wayne Caines, Minister of National Security, has been at the forefront of efforts to attract blockchain technology businesses to the island. Announcing the town hall event, he said: “We have attracted the best and brightest in the blockchain sphere to Bermuda with early stage MOU’s and investments totaling over $20 million dollars.

“We have garnered significant international media coverage of our innovative approach to this industry — and we have led the charge for governments the world over.”

He mentioned the partnering of Bermuda’s Trunomi with blockchain network Shyft International, and the decision by Binance, the world’s largest digital exchange, to have its compliance headquarters in Bermuda.

“What’s more we have secured solid commitments to build out Bermuda’s technology education infrastructure over the short to midterm,” Mr Caines said.

“We’d like to close the circle, and connect with everyday Bermudians who may not be au fait with the power and potential of blockchain, fintech and the world of digital assets. Our town hall meeting is an open event that will serve as an introduction to the world of blockchain as it relates to Bermuda and Bermudians in particular. We have a line-up of industry experts who aim to break down blockchain for the masses.”

Mr Caines said Bermuda is seeking to be “the epicentre of the global fintech ecosystem”.

He added: “We have learnt that blockchain technology is more than just a revenue generator, it is a tool to change the world, provide access to resources, assets, and empower individuals.

“With our strategic plans for the industry, we seek to create a space, a whole island innovation hub that will create solutions that positively impact our world.”