New Conference to Highlight Isle of Man's Growing Bitcoin Economy

Lieutenant Governor and the British Queen’s personal representative Adam Wood is set to headline the first annual Crypto Valley Summit on the Isle of Man next month.

The event, set for 17th and 18th September, will spotlight a diverse crowd of bitcoin thinkers, government representatives and business leaders will include BTC China founder and CEO Bobby Lee, House of Keys Member John Shimmin and GoCoin CEO Steve Beauregard.

Discussions will focus on local regulation, adoption within the community, and the unique challenges that startups may face in the local economy.

Peter Greenhill

, Director of e-Business Development for the the Isle of Man Government’s Department of Economic Development, said that the event provides the community a chance to lay the foundations for what its growing bitcoin economy will look like, stating:

“This is an opportunity to cement the Isle of Man’s reputation as a nimble, well-regulated jurisdiction for cryptocurrencies. The Island has a track record for innovation and high quality service in the financial services industry that will be enhanced by events like this.”

He added that the goal of the Crypto Valley Summit is “making it very clear exactly what’s on offer to entrepreneurs” who establish bitcoin companies on the island.

Focus on the Isle

The event will come weeks after the Isle of Man government offered broad clarification of its regulations for digital currency. At the time, the government stated that businesses not classified as money transmitters will be regulated under existing laws.

Over the course of two days, various speakers and panels will touch on key issues facing bitcoin today, both on the island and abroad. Wood’s opening remarks will touch on the broader nature of digital currencies and the potential they hold in the local economy.

The first panel, hosted by Counting House Managing Director Paul Davis, will offer some context on the existing payments ecosystem and its infrastructure. Isle-based payments companies have adopted a restricted policy toward digital currencies, as shown by the recent bitcoin prohibition announced by Douglas-based online gambling payments processor NETELLER.

Other highlights of the day will include Simon Dixon and Max Keiser, who will discuss crowdfunding and their crypto-themed fundraising platform StartJOIN, and Steve Brennan, Chief Executive of the Isle of Man’s Gambling Supervision Commission, who will moderate a panel on the role of digital currencies in gaming. Colin Tansley, Intelligence Consultant for Expol, will share his perspective on the cybercrime landscape.

Looking to the future

The second day of the Crypto Valley Summit will feature Member of the House of Keys John Shimmin's keynote address on the local perspective on bitcoin and what the future might hold should digital currency adoption grow on the Isle. Furthermore, BTC China chief Lee is expected to give a detailed breakdown of the bitcoin environment in China.

Notably, the second day will feature a two hour-long expert tables seminar, where delegates will have the opportunity to discuss and ask questions of the assembled business leaders and bitcoin thinkers. Taxes, law and the Isle itself are expected to be key topics during the session. Chris Corlett, the Department of Economic Development’s CEO, will offer closing remarks.

With the local community moving toward a broader digital currency integration in the months and years, the Crypto Valley Summit is expected to set the course for future bitcoin developments on the Isle.

Douglas, Isle Of Man image via Jim Linwood/Wikimedia Commons