The concept of a financial or technology sandbox, popularized
over the last decade, is gaining sway around the world,
particularly as regulators try to put cryptocurrency, blockchain
and technology genies back in the bottle and under observation
(perhaps even starving them of oxygen). For some regulators in
mature jurisdictions, such the UK's Financial Conduct
Authority, FCA, fintech or insuretech sandboxes and the
entrepreneurs that populate them are largely coming from positions
of strength and, as a result, may promote innovations that
"fit the mold" or marginally improve status quo.
Lloyd's, the world's oldest specialty insurance market, for
example, has recently launched Lloyd's Lab under similar
pretense and with great fanfare. However, when scanning the
world's self-identified crypto-friendly jurisdictions, the
idyllic beaches of the Caribbean basin offer not only the most
promising options, they are also among the most prolific when it
comes to breakthrough
