ECCB to pilot blockchain technology

The technology promises to provide digital payments and settlements platform with high level of fault-tolerance and security
17 March 2018   307

Eastern Caribbean Central Bank and fintech company Bitt, Inc. (Barbados) have announced their partnership to pilot a blockchain technology among the member countries of Barbados. Pilot testing of the blockchain technology is going to focus such segments of the banking system as Know Your Customer, Anti-Money Laundering and Combating the Financing of Terrorism. Another key purpose of the tests is establishing Eastern Caribbean digital currency on par with the physical one.

This FinTech pilot is part of the Bank’s Strategic Plan 2017-2021. The aim of the pilot is to ascertain the suitability of blockchain technology to help boost economic growth and competitiveness in the region consistent with the ECCB’s monetary and financial stability objective.

 

Timothy N.J Antoine

Governor, ECCB

As for the member countries as a testing ground, those are Anguilla, Antigua and Barbuda, the Commonwealth of Dominica, Grenada, Montserrat, St. Kitts and Nevis, Saint Lucia and St Vincent and the Grenadines. Bitt, Inc. will conduct the pilot testing under the supervision of ECCB in 2018. Such project is not new for the fintech company: in February the company agreed to develop a digital payments platform for the island Montserrat that happens to also be in Caribbean region.

We are proud to collaborate with the ECCB in the development of this pilot study to explore technological solutions to some of the all too real problems affecting the region, its institutions and most importantly its people.

 

Rawdon Adams

CEO, Bitt Inc.

The blockchain technology attracts the attention gradually in terms of a fusion between financial institutions and fintech companies, for instance in Lithuania, South Africa, Sweden.

Australia joins the crypto-discussions arena with Bitcoin & Blockchain Fair

The inaugural Bitcoin and Blockchain Fair will be presented at the Sydney Showgrounds on May 12-13 with an all-round program about cryptocurrency and blockchain
21 April 2018   27

A high profile event in cryptocurrency and blockchain is coming to Sydney, Australia on May 12-13 – Bitcoin and Blockchain Fair. The conference will provide a platform to interact and discuss on all areas of the cryptocurrency and blockchain technology sectors (fintech, investment, venture capital, regulation, ICO, etc.), current opportunities and perspectives in the form of a Forum and an Exhibition Showcases.

The Exhibition Showcase that will allow to exhibit showcases and engage with crypto services providers, government and fintech startups. Forum is the bulk of the conference and is comprised of 2-day sessions to allow international speakers and industry leaders of the crypto and blockchain sectors a chance to share their expertise. May 12 is focusing on cryptocurrency and ICO engagement; May 13 wil cover blockchain technology overview, case studies, solutions and future trends.

The fair is organized by ABF Business and Principal Sponsor Coinspot. Exhibitors and Speakers include attendees from Asia, Europe and USA together with key Australian high profile crypto & blockchain enterprises. The full agenda of the event can be found here.