Bitcoin, Common Currency in This Caribbean Luxury Community
The island of Bequia is located in the Grenadines. According to One Bequia’s website, it’s “Known to be the best kept secret getaway of world leaders & celebrities.” And, in that community, sooner than later, you’ll be able to pay for most things in Bitcoin. You’ll even be able to buy property in the 39 […]
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Overstock announced a strategic investment in Bitt, a Caribbean-based fintech company whose goal is to persuade Caribbean island nations to adopt digital national currencies. The investment was announced at a media conference in Barbados hosted by Avatar Capital, which invested in Bitt, and attended by representatives from both Bitt and Overstock. Politicians and dignitaries from various Caribbean nations attended. “A major impediment to economic advancement around the world is the fact that the vast majority of humans are unbanked,” said Overstock CEO Patrick M. Byrne. “Yet mobile....
All the new app needs to do now is to integrate Bitcoin payments, which seem to be gaining traction in The Caribbean as of late. Exciting things are happening on The Caribbean. As Bitcoin adoption seems to thrive in the region, online shopping is becoming a new point of focus. CaribShopper, a company with markets in 16 countries, has partnered with eBay to create a new application. Caribbean shoppers can now purchase items off the auction website through the eBay powered by CaribShopper app. Although many people overlook the Caribbean when it comes to finance and payments, the region is....
The UN Economic Commission for Latin America and the Caribbean (ECLAC) has published a report examining digital currencies and how they can be used to address regional payments issues. Written with the aim of providing local policy makers with a balanced appraisal of the benefits and risks of digital currencies such as bitcoin, the report examines the use of the technology in the Caribbean and discusses the broader context of its emerging use at the global level. Notably, the paper recommends further exploration into the technology with the ultimate aim of turning the region into a FinTech....