Bitt Launches the Blockchain Barbadian Digital Dollar
Barbados-based fintech firm Bitt Inc. has launched the Barbadian Digital Dollar, the Caribbean’s first blockchain-based digital money this week as a means to bring solutions to the unbanked in the region. In a marked effort to provide financial and banking solutions to its home country, Barbadian fintech company Bitt launched the Barbadian Digital Dollar earlier this week. In a press release, the founders of Bitt Inc point to the historical challenges faced by countries in the region, even those beyond Barbados in establishing a reliable banking infrastructure and platform. The digital....
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Overstock revealed Friday it invested $4 million into a blockchain-forward financial technology firm in the Caribbean. The announcement, made in Barbados and attended by principals from the island’s company Bitt and Overstock, enters in a big move by Overstock into the space. It’s involvement had largely been focused on innovation through its t0 project. “A major impediment to economic advancement around the world is the fact that the vast majority of humans are unbanked,” Overstock Chief Executive Patrick Byrne said. “Yet mobile penetration in some countries exceeds 100 percent. Bitt has....
Bitt has launched a blockchain-based version of the Barbadian dollar, a new product that it believes will help its service appeal to underbanked users in its home country. The announcement follows two days of local engagement, including a private launch on Monday held at local restaurant Buzo Osteria Italiana, and an international launch during a cruise on Tuesday that took place in conjunction with the Financial Cryptography and Data Security 2016 conference in Barbados. So far, the engagements have earned Bitt coverage from the Caribbean Broadcast Corporation (CBC), as it seeks to better....
Blockchain technology can make a major impact on the world although the ramifications can vary greatly from country to country. Barbados is not a country most people would assume with the financial sector, but there is a growing FinTech scene in the region. Bitt is one of those companies who aim to become the settlement service of the Caribbean, and they are employing blockchain technology to achieve that goal. The name Bitt may ring a bell for people who are experienced in the world of Bitcoin and blockchain, as the FinTech startup has been chosen to revamp the financial industry in the....
Overstock.com has announced it has invested $4 million USD into Caribbean exchange Bitt. The partnership was revealed in Barbados with various officials from surrounding nations. Bitt aims to bolster the current economic landscape and hopes to “remedy” the financial friction within the region. Bitt aims to digitize fiat currency within the Caribbean so....
At the Cato Institute’s “The Policy Challenges of a Decentralized Revolution” in Washington D.C. on Tuesday, Patrick Byrne confirmed that the island nation of the Barbados has indeed ran trials hosting their local fiat currency, the Barbadian Dollar (pegged at $0.50/1-dollar), on a blockchain equivalent. Mr. Byrne spoke to the larger trends ongoing with the technological shifts towards decentralization, and then off-handedly mentioned confirmation of Barbados’ successful trail linking fiat currency to Blockchain technology. Given the pioneering nature of this move, it will be a great case....