Cryptocurrencies in Antigua and Barbuda. The center of blockchain innovation!
This is a summary of the goal formulated by Prime Minister Gaston Browne at the government blockchain education program held at Kingsland University in February 2019.
The country has understood the importance of the financial technology Blockchain, and is hoping for billions in revenues and profits. Numerous measures have been taken and plans made in order to realize this.
The government education program is only one of the innovations planned on the Caribbean financial market. Further measures to become established as the leading nation for financial technology in the Caribbean include:
- A Blockchain Task Force (September 2018) consisting of members of government and business,
- Planning a stock market for cryptocurrencies,
- Recognition of cryptocurrencies as a legal means of payment (e.g. to pay for passports).
Antigua and Barbuda is to continue to attract investors and companies from around the world. The Commonwealth state in the Caribbean is e.g. offering
- easy immigration for foreign investors (Citizenship by Investment),
- low tax rates, and
- a modern telecommunications system.
Last year, Antigua and Barbuda made targeted investments to create the framework conditions for the financial technology of cryptocurrencies.
Pay for citizenship in Antigua and Barbuda in cryptocurrencies
It’s official since summer 2018: Now, citizenship in Antigua and Barbuda can be paid for in cryptocurrencies, such as Bitcoin.
The new payment methods for passports are aimed at opening up opportunities for foreign investors. It is hoped that this will revive the so-called CBI programs (Citizenship by Investment) and provide additional incentives for foreign investors.
First country in the Caribbean to allow payment with Bitcoin and other cryptocurrencies.
This is also a reason why they have become an accepted means of payment. Previously, transfers from US correspondence banks were checked in detail, which could often result in payment receipt being delayed. But this should now be over:
Fast transactions, sending and receiving of transfers in the easiest possible way
First Caribbean crypto-stock market planned in Antigua and Barbuda
A stock market for trading in cryptocurrencies is to add money to the country’s budget and
increase wealth. The Caribbean state of Antigua and Barbuda announced in 2018 that it would establish a stock market for cryptocurrencies.
Antigua has recruited a well-known crypto-expert to plan and implement the project: Canadian businessman Calvin Ayre is assisting with this financial project.
According to the Minister for Information Technology, Melford Nicholas, it is now time to make it easier for individuals to trade in cryptocurrencies and purchase Bitcoin and other technology-based currencies. A fee is payable for each transaction, which is to provide additional tax income for the state.
What is Bitcoin?
Bitcoin is a digital means of payment, which is based on a decentralized booking system (Blockchain technology). The virtual monetary unit Bitcoin allows payments to be processed relatively safely. And this includes mobile devices, such as smartphones and tablets. The decentralized technology is seen as highly secure and affordable as far as transaction costs are concerned.
If you would like help with Bitcoin and cryptocurrencies for Antigua and Barbuda, we at Relocate Antigua are here to help.