My last CEO update promised exciting news, and I am delighted to announce some, please read on.
First, some general observations. Life is definitely returning to some semblance of what we can recognise as normal.
The markets are reopening, and investors are looking at exciting projects which are able to portray themselves as fitting into a different corporate landscape. We at the Proof of Trust firmly believe that we fit that bill. Our issue and dispute resolution protocol not only lends itself to a world where face to face to working is coming under challenge, but we are a perfect fit for the increasingly decentralised way of doing business on the Blockchain and through smart contracts.
Our intention to seek a listing on the London Stock Exchange remains firm.
Complementing our intention in this regard is our determination to take our globally patented issue and dispute protocol, across the world.
To that end, the Proof of Trust Ltd has added a new company to its stable. The Proof of Assurance (Bermuda) Ltd, brings cutting edge globally patented dispute and issue resolution technology to Bermuda. The Proof of Assurance (Bermuda) Ltd will market itself under the Group branding, The Proof of Trust. It will be led by Kevin Richards, a Bermudian with a wealth of experience in the technology sector.
Commenting on the announcement, Mr Richards said: “I am delighted to join such a forward-thinking and transformative company. The Proof of Trust’s globally patented protocol provides an assurance layer that prevents invalid smart contracts from executing. The focus on smart contracts and the ability to provide data validation, operational assurance, and dispute outcomes provides the Bermuda ecosystem with the foundation layer the fintech movement has been missing. Proof of Trust offers public and private sector businesses an entry point for the adoption of distributed ledger technology that is easily understood and has the power to fundamentally increase speed and efficiency when entering into agreements, while dramatically reducing the risk inherent in contracts that companies and governments enter into on a daily basis.”
Prior to joining The Proof of Trust, Mr Richards worked at the Bermuda Business Development Agency (BDA) where he played a crucial role in working to diversify Bermuda’s economy. Mr Richards focused on attracting new technology businesses to set-up on the island, showcasing the country’s innovative and world-class digital assets regime. He also served as an ex-officio board member on the Bermuda Government’s E-Commerce Advisory Committee where he is now a full board member.
Dean Armstrong, CEO of The Proof of Trust Ltd said: “We are thrilled to be represented by Mr Richards in Bermuda, as he has a deep understanding of what it takes to accelerate the growth of Bermuda’s fintech sector and the role in which smart contracts can play in establishing a foundation for business services and contracts across multiple industries. We at the Proof of Trust are committed to investing and developing local expertise in this emerging sector. We hope that our operation in Bermuda will provide the lead in developing technical expertise in Blockchain related technology on the island which can then be exported across the region.”
Dean Armstrong CEO