Prime Minister Dr. Hubert Minnis will address the inaugural Bahamas Blockchain and Cryptocurrency Conference that government says could do “wonders“ for the country.
To do wonders for Grand Bahama
Minister of State for Grand Bahama in the Office of the Prime Minister, J. Kwasi Thompson, said the June 20-22 conference has the full backing of the government adding “we believe that this is going to do wonders for Grand Bahama. “The government has been very focused on ensuring that we progress with our tech hub initiative,” he said, noting that the country is already seeing the benefit of the initiative with the opening of GIBC Digital that has already employed 25 people and scheduled to hire an additional 25.
Fastest moving industry in technology
Thompson described blockchain and cryptocurrency as “one of the fastest moving industries in the technology field” and he is pleased with the response to the conference both locally and internationally. He said the caliber of speakers shows the desire the country has to be a part of the industry.
Investment Officer in the Office of the Prime Minister, Omar Isaacs, said the conference focuses on opportunities for venture capitalists and some of the pitch presentation companies in attendance from around the world.
Blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions, while cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.