Thursday, February 22, 2018

Exploring digital currency and E-payment in the Caribbean*

UN ECLAC 1st EGM: ECLAC's Deputy Director (Ag.) Dillon Alleyne, from left, Associate Information Management Officer Robert Williams and consultant, Shiva Bissessar. —Photo courtesy UN ECLAC


(While reference is made within this piece to a study and report, the opinions expressed are my own.)
In November 2014 The UN Economic Commission for Latin America and the Caribbean (ECLAC) commenced a study entitled “Opportunities and risks associated with the advent of digital currency in the Caribbean”, where yours truly was selected as the consultant to perform the required research and write the final report. The study sought to introduce the Caribbean to the phenomenon of digital currency and explore the opportunities and risks which arise from application of this innovation within the Caribbean. The work was performed in the context of continued regional deficiencies in electronic payment infrastructure (e-commerce and mobile money) and the appearance of service providers seeking to provide solutions in response to these deficiencies including digital currency service providers.
The study brought together key stakeholders within the Caribbean involved in activities toward the development of better electronic payment infrastructure.

 

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