QuoVadis is developing an offshore Commercial Certificate Authority to issue digital certificates for secure e-commerce. Public Key Infrastructure (PKI) technology is the leading solution to address the security, authentication, and non-repudiation issues associated with e-commerce. PKI operates through the provision of digital certificates that act as €˜digital passports' and uniquely identify the parties to any on-line transaction.
QuoVadis will develop a secure network facility in Bermuda to serve the local e-security market as well as other offshore jurisdictions. QuoVadis is backed by investment from eVentureCentre, an e-commerce incubator formed by a Bermuda-based member of the Centre Group and Paragon Bermuda Limited.
QuoVadis co-founder Tony Nagel explains "Bermuda is rapidly evolving as a key international hub for electronic transactions, with its active financial community and excellent telecommunications infrastructure. QuoVadis expects to reinforce Bermuda's longstanding reputation for trust and sensible regulation, and to provide the high security that the business-to-business multinational e-commerce sector requires."
"We recognise that on-line security is an issue for any organisation based in Bermuda - and that PKI is the best solution to instill trust in digital business. Indeed, Bermuda's reputation and regulatory framework already differentiate the island from other offshore jurisdictions in the eyes of international clients. An independent Certificate Authority will further enhance Bermuda's e-commerce edge."
Mr. Nagel adds "The offshore market, like most early adopters of PKI, is characterized by high value transactions and confidential transfers of information over electronic networks extending around world. The use of a Bermuda-based CA reinforces their connection to Bermuda's preferred regulatory, legal, and fiscal environment - which might not be the case if deals were transacted with a comparable onshore CA."
Bermuda's Minister for Telecommunications and E-Commerce, The Hon. Renee Webb, stated "In 1999, Bermuda was one of the first jurisdictions worldwide to enact legislation dealing with the formation of electronic contracts and the validity of digital signatures. The Bermuda Government is pleased to work with QuoVadis to continue to establish Bermuda as the premiere international platform for electronic transactions."
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Steve Bradshaw, Global Strategic Development Director at Baltimore Technologies comments "Baltimore Technologies believes that offshore financial centres such as Bermuda will be important focal points for international electronic business. Bermuda, with its solid public/private partnership between government and business, had great foresight in its early adoption of enabling legislation for e-commerce. QuoVadis will be a strong force for e-commerce companies looking to build trust into their international transactions."
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About QuoVadis
QuoVadis was founded by Tony Nagel and Stephen Davidson in 1999 to develop an offshore digital Certificate Authority for e-commerce. Mr. Nagel has worked in Bermuda for more than 12 years and served as the CFO of TradeCard, an Internet startup specializing in international trade finance. Mr. Davidson, a Bermudian, served as head of Business Development for the Bermuda Stock Exchange.
For additional information on QuoVadis and Bermuda, please visit http://www.quovadisoffshore.com
About Baltimore Technologies
Baltimore Technologies develops and markets security products and services to enable companies to develop trusted, secure systems for e-business, the Internet and mobile commerce. Its products include a wide range of Public Key Infrastructure (PKI) products and services, wireless e-security solutions, cryptographic tool-kits, security applications and hardware cryptographic devices. Baltimore's global professional services organization offers a wide variety of consulting, training and deployment support to its customers worldwide. Baltimore Technologies markets and sells its solutions worldwide directly and through the TrustedWorld channel program. TrustedWorld includes many of the world's leading technology companies and a wide variety of global, regional and local business alliance partners.
Baltimore Technologies employs over 700 people worldwide and operates from over 20 cities with headquarters in Dublin, Ireland; London, UK; Boston, USA; and Sydney, Australia. Baltimore Technologies plc is a public company with dual listings on NASDAQ (BALT) and the London Stock Exchange (BLM). Intel Corporation is a minority shareholder in the Company.
For further information and press releases on Baltimore Technologies, please visit http://www.baltimore.com
About eVentureCentre
eVentureCentre is the first e-commerce incubator to be established in Bermuda, providing investment capital, infrastructure, administrative, and technical services for a growing list of companies seeking to participate in the Internet economy from an offshore hub. eVentureCentre is a joint venture between a Bermuda-based member of the Centre Group, which is part of the Zurich Financial Services Group, and Paragon, a Bermuda based technology applications consultancy.