The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A CARIBBEAN group is aiming to capitalise on the huge interest in blockchain and cryptocurrency in the Bahamas by creating a series of monthly exchanges and forums on the technology.

The Caribbean Blockchain Alliance, an advocacy group for blockchain technology and cryptocurrency, which was started by Bahamian, Stefen Deleveaux, and is gaining partners throughout the region, is set to host the first in a series of monthly events at Halcyon Restaurant Bar and Lounge on April 26 to educate Bahamians on the technology and its many uses.

Bobby Chen, an advocate in the cryptocurrency space and member of the Caribbean Blockchain Alliance, told Tribune Business: "The interest is huge. I would say people who have educated themselves about the technology all want to invest in cryptocurrencies or build blockchain-related businesses.

"Others hear these buzzwords in the media but don't really understand it, and don't have an appetite for it yet. Meanwhile, a number of local businesses are attempting to engage with local regulatory agencies, as well as other Fintech bodies, to increase adoption of the technology here in the Bahamas. Foreign investment in this industry is also huge, as there are many companies trying to move their operations here and provide blockchain solutions to local businesses."

Mr Chen, a licensed realtor in the Bahamas, said the Caribbean Blockchain Alliance was aiming to promote education on a wide range of topics related to blockchain and cryptocurrency. "We will be talking about cryptocurrency in its current state, the blockchain, what it is, and what direction the Bahamas should be heading in if we want to keep up with this new frontier," he added.

"We want to promote these kinds of discussions regularly, and we're looking to do one event every month - whether it be inviting a guest speaker, having a panel talk, or just a simple presentation. "Right now the interest in the technology is huge. I think there is a lot of pressure internationally for the mass adoption of digital technologies, including but not limited to blockchain.

"Blockchain is definitely at the top of the list of things that can be used to transform us into a more digital and efficient economy. We need better platforms to inform the people about what they should be expecting in the next two to five years."