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Isle of Man, 22 September 2014 -- A sell-out crowd of over 150 entrepreneurs, enthusiasts, government and private sector representatives from around the world convened for the inaugural Crypto Valley Summit (CVS) on the Isle of Man from Wednesday 17th September through Thursday 18th September to discuss the future of digital currencies. Leading technology entrepreneurs including the Founders of GoCoin, Steve Beauregard and Brock Pierce, the CEO of Counting House, Paul Davis, the CEO of Instabil, Jason Field, and the CEO of BankToTheFuture, Simon Dixon, addressed some of the industry’s most pressing issues, and celebrated the Isle of Man for adopting a world-leading position on digital currency.
The Isle of Man Crypto Valley Summit is the meeting place for digital currency entrepreneurs looking to create and maintain ethical and registered businesses. Over the two-day summit, international experts debated highly topical issues including: banking and card processing for bitcoin, the challenges faced by inconsistent global regulation, cybersecurity threats, the future of the payments industry, global discrepancies in VAT and taxation schemes, the link between digital currencies and e-gaming and more.
The e-gaming panel discussion centred on how crypto currencies are the key to opening up new markets in south America and South East Asia; the elimination of chargebacks and reduction of processing costs for operators, whether regulating the digital currency industry would create a safe environment of stifle possibilities and the shortage in IT resource in the e-gaming sector and the impact this would have on timeline for crypto currency becoming a mainstream payment method.
Peter Greenhill, Director of e-Business at the Department of Economic Development on the Isle of Man, said, “The Isle of Man is increasingly becoming a technology hub in its own right. Ebusiness currently accounts for 15% of the island’s GDP. By 2020 we predict this will grow to 23%.”
“The policies we have in place are there to encourage innovation while helping to keep crime out, and protect the individual. The Crypto Valley Summit further solidified our role in providing a favourable environment for high-quality businesses in the sector. Since announcing our digital currency policy, over 20 organisations have established companies on the Island. We welcome the announcement by BankToTheFuture that they intend to add to that number. The government’s position remains to welcome those who can meet the necessary standards while preserving the Island’s good reputation as a financial centre.
Steve Beauregard, CEO of GoCoin and keynote speaker, said, “The Isle of Man Crypto Valley Summit (CVS) should become the industry’s go-to event for digital currency executives. In my experience speaking at worldwide bitcoin conferences, the engagement and collaboration between government, service providers and digital currency ecosystem companies at CVS was unparalleled. As one of the first international payments platforms for crypto currencies, GoCoin has evaluated many jurisdictions and we can say, without hesitation, that the Isle of Man offers many competitive advantages over the US, UK, Luxembourg and Singapore, when it comes to doing business in the sector. The Isle of Man’s value proposition includes greater open government access, talented business people, a thriving and professional-grade e-gaming industry, government clarity and a favourable regulatory landscape.”
For a full overview of the Isle of Man Crypto Valley Summit, see here: http://www.cryptovalleysummit.com/
