The Future of Digital Money

Business News: The world is on a new level utilizing its many resources which brought us to Blockchain. Many questions the sustainability of the Blockchain market stating that this would be a risk for many banks. Surprisingly, Caribbean nationals are some of the leading experts in this field.  Late down in September Prime Minister Mia Mottley made the announcement of plans for a Barbados Money Pilot at Bitt Central Bank Meets Blockchain: From The Ground Up event at Hilton Hotel.

Mottley disclosed that Government would be soon meeting with commercial banks to discuss the impasse between that sector and Bitt’s digital payment network Money. She said this was a part of Government’s plan to continue its transformation process for Barbados, allowing the country to move forward. This is to show us that in the near future Barbados is paving the way for digital money in their central bank System.

Additionally, Barbadian entrepreneur and Global Blockchain expert Gabriel Abed recently announce the launch of the newest Blockchain Advisory firm, novelty Curve Inc. “The company’s goal is to support, mentor, and nurture distributed ledger technology companies as they progress through their various business cycles. We are particularly keen to work on projects that are innovative, disruptive and are seeking to attain the adequate regulatory framework in their business models,” Abed said to the global audience.

Jamaica is also on the Blockchain train itself. Jamaica Stock Exchange Managing director Marlene Street Forrest said that offering cryptocurrencies as investment products fits in with the equities, bonds and other investment products that the exchange already offers.

 

By Mario Y. Galbert

Mckoy’s News Journalist- International & Business Affairs

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