The first meeting of a navigating committee to plot the future of blockchain technology for the Bahamas is all set to take place in the month of September. The news was confirmed by Deputy Prime Minister and Minister of Finance, Peter Turnquest.
According to Turnquest, blockchain has the potentiality to revolutionize the way industry and finance is done in Bahama.
He further added that Blockchain is an essential technology determining the country’s 21st-century futures. The technology has certainly reshaped the future of the financial sector. The company is determined by being at the front of these changes, and it could harness the power of technology to enable innovation and economic growth in the Bahamas
On that occasion, Turnquest also mentioned that the way the Internet gave small countries a chance to dream big and have a better future, similarly, blockchain could help the country smoothen out the business and give the citizens a lot of business opportunities.
Jason Leach, the CEO of Deep Minds Chief Executive Officer (CEO) stressed on the significance of emerging an edible framework for blockchain in the country which would give the Bahamas an improvement over the other countries, focusing on blockchain developments. There is a lot that the Bahamas presently lacks in and According to Leach, if the country does not act on time, then it might end up playing with new regulations forever. A community of aware and willing blockchain and crypto enthusiasts are currently required in the Bahamas to steamroll the new developments.
As per the news published in The Daily Herald, the Bahamas Government legally entered into a Loan Agreement with the Inter-American Development Bank (IDB). A net amount of $30 million has been loaned to the Bahamas for the implementation of the inventiveness for Current and Future Jobs in The Bahamas. Turnquest spoke about his apparition and he explained how he feels blockchain might transform the trade and money sector in the country.
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