Continuing with our deep dive into the Caribbean region’s fintech space, we chat with Stefen Deleveaux about: the Caribbean Blockchain Alliance, for which he is President; blockchain technology and how it is being applied in the Caribbean region; and what we can expect of blockchain technology in the region within the next 2—3 years.

 

This episode is also available on SoundCloud, Apple iTunes, Google Play Music, Spotify, Amazon Music (NEW!) and on Stitcher!

One of the big themes that we want to discuss in 2022 is fintech, that is, the financial technology space in the Caribbean region. We plan to put a spotlight on the space, the developments that have been occurring, as well as highlight innovative fintech and fintech-related ventures based here in the Caribbean.

In January, we chatted with financial innovator, private banker and serial entrepreneur, Telly Valerie Onu, who gave us an overview of fintech in the region. This month, we are focussing on one of the key technologies driving fintech, that is, blockchain technology.

To many, blockchain technology might still seem far removed from the Caribbean region, but there is a lot of activity happening in the space. Moreover, many individuals living and working in the region have developed considerable expertise in the technology, and are driving efforts for increased integration and adoption of blockchain by public and private sector actors.

It ought to be noted that we have discussed blockchain technology in previous articles, here on ICT Pulse, and on the Podcast (see below), but in today’s episode, we have three objectives:

  • to continue to learn more about blockchain technology and how it is currently being applied in the Caribbean region;
  • to learn more about the Caribbean Blockchain Alliance; and
  • to get some insight into how blockchain technology might be used in the region in the next two-to-three years.

 

Introducing our guest

Stefen Deleveaux

Stefen Deleveaux is a Bahamian economist and an authority on blockchain and fintech in the Caribbean. He is President of the Caribbean Blockchain Alliance (CBA), which is a regional Non-Governmental Organisation (NGO) formed to advocate for blockchain technology and to foster its adoption through awareness and education. He has led the blockchain education of software developers and has facilitated various hackathons. He continues to push to build cohorts of blockchain developers in the region.

Stefen is also a co-founder of the Shift the Culture, a start-up advocacy group, and the Arrowlynk Ventures business incubator, both based in The Bahamas.

 

 

Insight into our conversation

Stefen is indeed a blockchain advocate and can talk about the subject for hours; so our conversation was rich with examples of the ways in which blockchain technology can be applied in the region.

Having established the fundamentals, such as what is blockchain technology, a fair portion of the discussion focussed on challenges that are hindering blockchain development and adoption by Caribbean businesses. Additionally, and though we were cognisant that the enabling environment is still underdeveloped, we also recognised that businesses and organisations still do not trust the technology, and as a result, some interesting blockchain-driven variations are emerging.

Below are some of the questions posed to Stefen during our conversation:

  1. To start us off, tell us a bit about yourself.
  2. How would you explain it blockchain technology to someone who does understand what it is?
  3. In terms of global trends what has been happening with blockchain technology? Can you give us some examples of how it is being applied?
  4. In relation to the Caribbean region, what is happening with the technology? How is being used? And how is it evolving here in the region?
  5. Are there any specific issues that the Alliance has been tackling, or has it identified any priorities that it has been focussing its attention?
  6. What are key challenges the Caribbean Blockchain Alliance has identified here in the region, with respect to blockchain development and adoption by businesses, and with regard to consumers?
  7. Have any legal or regulatory impediments been identified that could hinder the development or adoption of products and services that leverage blockchain technology?
  8. Based on your observations and interactions, how big an issue is a lack of trust here in the region, and how might it be addressed?
  9. In the next few years, where do you see blockchain being used in the region?

 

We would love to hear from you!

Do leave us a comment either here beneath this article, or on our Facebook or LinkedIn pages, or via Twitter, @ICTPulse.

Also, if you or a member of your network is interested in joining us for an episode, do get in touch.
Let’s make it happen!

 

Below are links to some of the organisations and resources that either were mentioned during the episode, or otherwise, might be useful:

 

 

Image credits: S. Deleveaux; S. Deleveaux; Quantitatives.io (Unsplash); Kevin Smith (flickr); TLC Jonhson (flickr)

Music credit: The Last Word (Oui Ma Chérie), by Andy Narrell

Podcast editing support: Mayra Bonilla Lopez