It is the first sovereign-scale test of whether national financial infrastructure can migrate onto programmable blockchain settlement layers. If it succeeds, the ripple effects won’t remain local. Infrastructure never does.Why Bermuda Is the Ideal Controlled ExperimentBermuda’s strength is controllability. With roughly 64,000 residents, a globally connected financial services sector and regulatory groundwork laid as early as 2018 with the Digital Asset Business Act (DABA), Bermuda offers rare...