Thursday, November 14, 2024

Antigua PM speech on CIP and Blockchain in Davos

The Antigua Prime minister spoke in Davos about the impact of CIP and immigration investment in Antigua and Barbuda.

 

Here is a quick summary of what he spoke:

 

  • Antigua and Barbuda growing at 5.2% annually
  • CIP investment has allowed to diversify the economy to raise non-tax revenues, attracted individuals with skills.
  • CIP funding used to repay debt, fund healthcare, pension, a god-send for many caribbean countries with fiscal challenges after 2008/2009 economic crisis
  • Antigua and Barbuda taking steps to become early adopter to Blockchain technology and within 30 days a legislation will be passed to create legal platform for Blockchain and cryptocurrencies.
  • The whole idea is for Government to digitize number of services using Blockchain technology including details of  CIP citizens, Passports, Drivers license and other ID cards in blockchain.
  • Blockchain technology used to trace from seed to plant in medical marijuana space.
  • Cryptocurrencies still accepted as payment for CIP
  • Most of caribbean countries are highly dependent on tourism and there is a greater need for economic diversification
  • Blockchain and cryptocurrencies helps us to diversify and create entrepreneurship

 

 

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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