A roundup of the latest ICT/technology news from across the Caribbean region for the period Monday 14 November to Sunday 20 November 2022.
Monday, 14 November 2021
ArawakX clarifies it is not affiliated with FTX
Bahamas – “ArawakX is not affiliated with FTX,” ArawakX told its clients and investors in an email on Friday… more
Bahamas told: Don’t pause digital assets plan on FTX failure
Bahamas – Halting its digital assets growth strategy due to FTX’s collapse would be “the worst thing The Bahamas could do”, an industry entrepreneur says, even though the failed crypto exchange now faces a local criminal investigation… more
Bankrupt crypto exchange FTX under criminal investigation
Bahamas – A team of investigators from the Financial Crimes Investigation Branch is working closely with the Bahamas Securities Commission to investigate potential criminal misconduct surrounding the collapse of the crypto-exchange FTX… more
Collapse ‘bewilders’ FTX Bahamas staff
Bahamas – FTX’s 40 Bahamian staff have been left “bewildered and beleaguered” by the speed of the crypto exchange’s collapse, a senior executive says, amid hopes its $74m real estate outlay will prove a key recovery source for local creditors… more
Destruction of an icon
Bahamas – WHAT exactly happened? How could FTX go bankrupt almost overnight? And what does that mean for the entire market? We are trying to reconstruct the whole drama… more
Fears FTX freeze order was violated
Bahamas – Fears were raised yesterday that the Supreme Court order freezing all assets of FTX’s Bahamian subsidiary was violated when some of the collapsed crypto currency exchange’s clients withdrew their monies late last week… more
FTX fall-out could impact on real estate sector
Bahamas – As the collapse of crypto exchange giant FTX continues to send shockwaves through the crypto market, the fall-out locally could be felt across several sectors… more
FTX hacked; files for bankruptcy in US
Bahamas – After filing for Chapter 11 bankruptcy protection in the US district of Delaware last week, having its assets frozen by the Securities Commission of The Bahamas and put into liquidation, things have not gotten any better for embattled crypto exchange platform FTX, which is headquartered in The Bahamas… more
Opposition seeks answers in FTX debacle
Bahamas – As developments related to the collapse of FTX cryptocurrency exchange continued to unfold, Opposition Leader Michael Pintard yesterday called on the government to provide an “urgent” statement on issues related to FTX, which is headquartered in The Bahamas… more
Police probing FTX
Bahamas – FTX is under investigation by police to determine “if any criminal misconduct occurred”, police said yesterday… more
Unsolicited BTC ads
Bahamas – EDITOR, The Tribune. Grateful I am for allowing me this small space to make an inquiry into the unsolicited BTC ads, for certainly other customers/clients experiencing some of the same deluge of this company’s ads, and unsolicited at that… more
The journey of the ECCB in creating a digital currency
Caribbean – Much has already been written on the various considerations central banks must be mindful of as they immerse themselves in central bank digital currency (CBDC) research from a theoretical perspective. This article presents insights from the vantage point of the consultant in driving the execution of a CBDC pilot based on real-life practical experience… more
Digicel comes up big at World Communication Awards
Haiti – The Digicel Group emerged as the winner of the Social Contribution Award at the 2022 staging of the World Communication Awards… more
Tuesday, 15 November 2021
E-sports College Fair under the auspices of US Embassy begins today
Antigua and Barbuda – Students in Antigua and Barbuda who are interested in pursuing careers in the e-sports industry will get the chance to explore a variety of opportunities to facilitate their studies… more
Bahamas crypto exchange to ‘prove’ financially sound
Bahamas – A SECOND Bahamas-based crypto currency exchange yesterday pledged to publicly disclose “proof” of its financial soundness and reserves in a bid to reassure jittery investors following the implosion of rival FTX… more
Don’t let FTX woe ‘arm enemies’ of Bahamas
Bahamas – The Opposition’s leader yesterday warned that the Government’s silence over the FTX crypto exchange’s implosion could “arm enemies of The Bahamas” with ammunition to inflict more damage on its financial services industry… more
FTX and the DARE Act
Bahamas – Dear Editor, When the full set of circumstances relating to FTX are taken together, The Bahamas will not have more than any other country to be ashamed of… more
FTX collapse a “teachable moment”, says senior forensic accountant
Bahamas – A senior forensic accountant said yesterday that FTX’s collapse should serve as a “teachable moment” but will not be a “body blow” to this nation’s digital asset hub ambitions… more
FTX implications should not be ignored
Bahamas – There is a frequent refrain from many Bahamians on social media who opine “The Bahamas is not a real place” when something that appears nonsensical, bizarre, illogical or easily preventable occurs… more
FTX implosion threatens perfect ‘40 of 40’ in financial crime fight
Bahamas – The Bahamas’ bid to achieve full compliance with all global anti-financial crime standards before year-end may have been endangered by the implosion of the FTX crypto currency exchange, it can be revealed… more
Govt executives remain mum on FTX collapse one week later
Bahamas – The executive members of the government have remained mum on the FTX issue a week after the house of cards that was one of the largest cryptocurrency firms on the planet began to buckle… more
‘Minimal exposure’: Central Bank demands FTX report
Bahamas – Bahamian bankers yesterday predicted the industry has minimal exposure to FTX after regulators demanded the sector disclose all business dealings with the collapsed crypto currency exchange… more
Supreme Court approves joint provisional liquidators for FTX
Bahamas – The Supreme Court has approved the appointment of joint provisional liquidators for Bahamas-headquartered FTX Digital Markets Ltd., according to a statement from the Securities Commission of The Bahamas, which said it has moved to further protect “the interests of clients, creditors, and other stakeholders globally” of the embattled company… more
ICT and Science graduates getting opportunities in Rwanda, Canada
Barbados – Science and ICT [information and communications technology] university graduates of the University of West Indies Cave Hill campus will now have opportunities for employment and to further their studies in Rwanda… more
Huawei launches 2022 Seeds for the Future programme
Trinidad and Tobago – Huawei opened its Seeds for the Future (SFTF) 2022 Programme in the Caribbean region on November 4,2022, to encourage ICT talent to tackle social challenges with digital solutions… more
Digicel moves downtown
Trinidad and Tobago – DIGICEL has moved its new flagship store to Excellent City Centre, Port of Spain… more
Wednesday, 16 November 2021
Bahamian liquidator rejects validity of FTX’s US chapter 11 filing
Bahamas – Brian Simms, KC, one of the joint provisional liquidators overseeing the winding up of FTX Digital Markets, said he rejects the validity of FTX’s chapter 11 bankruptcy filing in the US, arguing that he did not authorize it… more
BTC prize to finance US expansion for runner-up
Bahamas – THE runner-up in the Bahamas Telecommunications Company’s (BTC) Inknowvation pitch challenge is planning to use their $3,000 cash prize to expand into the US market… more
Cooper confident in local regulators as FTX fallout reverberates
Bahamas – Deputy Prime Minister Chester Cooper yesterday expressed confidence in The Bahamas’ financial services laws following the collapse of the Bahamas-headquartered crypto currency giant FTX… more
DPM: We can survive ‘curveball’ from FTX
Bahamas – THE Deputy Prime Minister yesterday voiced confidence that the Bahamian financial services will survive the latest “curveball” thrown at it by the FTX crypto exchange’s sudden implosion… more
FTX collapse an ‘opportunity to ensure greater transparency’
Bahamas – THE collapse of FTX could be used as a crucial learning lesson moving forward, a governance reformer said yesterday… more
FTX: FBI Mulling Bankman-Fried Extradition As Bahamas Arm Of Exchange Files For Bankruptcy
Bahamas – The FBI is in talks with Bahamian authorities to extradite the 30-year-old crypto founder… more
FTX founder wants to make customers whole
Bahamas – Former FTX CEO Sam Bankman-Fried, whose multibillion-dollar crypto empire crumbled in the span of days, said yesterday he is committed to making his customers whole… more
FTX tentacles stretched far across Bahamas
Bahamas – On October 31, FTX Digital Markets Director of Corporate Social Responsibility Zoe Gibson-Bowleg paid a courtesy call on Commissioner of Police Clayton Fernander, donating tablets to the police force on the company’s behalf as FTX continued its charitable efforts across Bahamian communities – the most expansive program of giving we have ever witnessed in such a short period from any Bahamas-based entity… more
PERSEVERE: DPM says he’s confident country will pivot from FTX fall-out
Bahamas – Deputy Prime Minister Chester Cooper yesterday expressed confidence in the country’s financial services regulators and the laws governing the industry, suggesting that this nation would persevere and pivot from the FTX fallout… more
Prepare now for more crypto oversight
Bahamas – There is one thing the Organisation for Economic Co-operation and Development (OECD) and G-20 countries have made clear in the past few decades: they will stop at almost nothing to curb what they deem tax avoidance and evasion… more
PM says FTX investigation will be of the highest order
Bahamas – In his first public comments on the collapse of Bahamas-headquartered FTX, Prime Minister Philip Davis today said he has given directions that the investigations into FTX “are to be of the highest order and given precedence, given the amounts involved and because committed and rigorous oversight is of national importance… more
Securities Commission working with other regulators on ‘urgent’ FTX matter
Bahamas – The Securities Commission of The Bahamas (SCB) confirmed in a statement early Wednesday morning that it is working with other regulators on matters dealing with the investigations into FTX, calling the matter “urgent” with “international implications”… more
Digi almost finished with restoring infrastructure damaged by Hurricane Lisa
Belize – Веlіzе’ѕ nаtіоnаl tеlесоmѕ provider, Dіgі, ѕауѕ thаt thе соmраnу іѕ аlmоѕt fіnіѕhеd wіth rеѕtоrіng аll thаt wаѕ dаmаgеd whеn Нurrісаnе Lіѕа hіt thе соuntrу еаrlіеr thіѕ mоnth… more
National Met Services Partners with Small Farmers To Create Climate Information App
Belize – The Ministry of Economic Development also signed a Memorandum of Understanding with the National Meteorological Service of Belize for the development of a climate information system… more
IT equipment basics for small businesses
Caribbean – All small businesses need technology. Whether a self-employed content creator or a small business owner, you use technology daily to ensure your business runs smoothly… more
Digicel launches Christmas promotion
Guyana – Digicel yesterday launched its Christmas promotion “PICK AND WIN” and handset sale… more
Blair Lilford creating a tech climate
Jamaica – Zimbabwe native, CEO and founder of SALT Technology Group Blair Lilford recounts that he became intrigued by technology in his early years. During that time, young Lilford often found himself utilising a single phone system in which everyone’s phone in his community would ring if a call were incoming… more
Seed Jamaica anticipates year-end approval
Jamaica – With its application to secure licence now awaiting approval by the Bank of Jamaica (BOJ), Seed Jamaica has its hopes set on being given the green light to operate as a microfinancial institution as early as year end… more
TechBeach Retreat returns to Jamaica
Jamaica – After a near three-year absence, TechBeach Retreat will return to Jamaica offering tech start-ups and other players in the region’s technology sector an opportunity to connect with partners and investors from across the world… more
Women in tech: An endangered species
Jamaica – At a recent cybersecurity technology vendor event the number of women present was significantly lower than their male counterparts… more
St. Kitts & Nevis Consider Adopting Bitcoin Cash as Legal Tender
Saint Kitts and Nevis – The Caribbean island nation’s prime minister said that the country is looking into becoming the third nation, after El Salvador and the Central African Republic, to adopt a cryptocurrency… more
Thursday, 17 November 2021
E-sports club’s GM says youth require the right ‘exposure’ to become pioneers in STEM
Antigua and Barbuda – As interest in the world of e-sports and technology grows among the Antiguan and Barbudan populace, the General Manager of Antigua Barbuda E-sports Club, Elijah James, is optimistic about the level of interest shown by youth… more
Bahamas liquidators detect ‘serious fraud’ signs at FTX
Bahamas – FTX’s Bahamian provisional liquidators have yet to gain control of all its assets amid signs that “serious fraud and mismanagement” may have caused the group’s collapse, it has been revealed… more
BTC revenue growth slows to only 1.3%
Bahamas – The Bahamas Telecommunications Company’s (BTC) year-over-year revenue growth slowed to just 1.3 percent year-over-year for the 2022 third quarter even though it remained ahead of prior year comparatives for the first nine months… more
Fernander says police waiting on information from Securities Commission regarding FTX
Bahamas – Commissioner of Police Clayton Fernander said yesterday that police are waiting on information from the Securities Commission of The Bahamas (SCB) in order to move forward with their investigation into FTX… more
FTX’s Bahamas creditors unlikely to see full recovery
Bahamas – FTX’s newly-appointed chief executive yesterday asserted that corporate governance was non-existent at its Bahamian subsidiary, adding: “Never have I seen such a complete failure of controls in my 40-plus years… more
FTX INVESTIGATION ‘OF HIGHEST ORDER’: PM says effort will be coordinated with authorities in other jurisdictions
Bahamas – AFTER the collapse of FTX, Prime Minister Phillip “Brave” Davis said he has ordered that local investigations be of the highest order and given precedence, adding that investigations will be a coordinated effort with “duly appointed authorities” in other jurisdictions… more
FTX liquidator files in US court
Bahamas – Brian Simms, KC, one of the joint provisional liquidators appointed to oversee the winding up of FTX, said he did not authorize anyone affiliated with FTX to file for bankruptcy in the United States (US) and rejects the petition… more
Lessons from FTX debacle
Bahamas – Recently in the news, The Bahamas has come under the spotlight in light of the colossal collapse of cryptocurrency exchange FTX. While many were quick to point the finger at the Bahamas government, but I do not feel we should be so quick to pronounce judgment… more
Liquidator rejects validity of FTX’s Chapter 11 bankruptcy filings
Bahamas – Provisional liquidator Brian Simms KC has rejected the validity of FTX’s Chapter 11 filings in the United States… more
Mitchell on Bankman-Fried extradition rumors: I don’t know anything about it
Bahamas – The internet is awash with rumors that Bahamian and American authorities are having extradition conversations about Sam Bankman-Fried, former chief executive officer of cryptocurrency exchange FTX… more
No use in trying to distance The Bahamas from FTX
Bahamas – Prime Minister Philip Davis yesterday broke his silence on the matter of last week’s implosion of cryptocurrency giant FTX Digital Markets Ltd., which is headquartered in The Bahamas… more
Police have not interviewed FTX CEO
Bahamas – POLICE have not interviewed former FTX CEO Sam Bankman-Fried, Commissioner of Police Clayton Fernander said… more
PM: We will emerge from FTX saga with enhanced reputation
Bahamas – In his first public statements since the collapse of Bahamas-based FTX, Prime Minister Philip Davis said in the House of Assembly yesterday that based on the analysis and understanding of the FTX liquidity crisis, to date, “we have not identified any deficiencies in our regulatory framework that could have avoided this”… more
5 ways retail businesses can increase sales through Bluedot
Caribbean – It’s that time of year when businesses have begun ramping up with staff and stocking their stores to the brim in preparation for the holiday season… more
eCurrency providing technology for National Rollout of CBDC in Jamaica
Jamaica – eCurrency has entered into a long-term partnership with Bank of Jamaica to provide technology services for the national rollout of its Central Bank Digital Currency (CBDC) – JAM-DEX… more
Gov’t far advanced in establishing ICT Authority – Vaz
Jamaica – THE GOVERNMENT is far advanced in its bid to establish the Information and Communications Technology (ICT) Authority… more
EduFocal realises loss in third quarter
Jamaica – Education technology firm EduFocal made a loss in its third quarter ended September… more
JTDA’s BizTech Conference 2022 starts today
Jamaica – Jamaica Technology & Digital Alliance (JTDA) said this year’s staging of its annual BizTech Conference, which is set for November 17 and 18 at the Jamaica Conference Centre in downtown Kingston, will focus on the National Identification System (NIDS)… more
NTRC Process for Seeking Redress
Saint Lucia – If you have a complaint against your telecommunications provider, become knowledgeable on the procedure for seeking redress… more
NTRC Public Notice: Enforcement Mandate
Saint Lucia – The NTRC, under the conferred powers of Telecommunications Act of 2000 informs members of the public and other stakeholders, including operators, current and proposed licensees of their continued enforcement drive… more
Friday, 18 November 2021
BAHAMAS REBUTS FTX ACCESS CLAIMS: Securities Commission given lawful permission to transfer assets to ‘a safer space’
Bahamas – The Securities Commission last night debunked accusations the Government “directed unauthorised access” to FTX’s systems, and aided the withdrawal of digital assets, in violation of Bahamian and US court orders… more
Bankman-Fried on regulators: They make everything worse
Bahamas – An article released on Wednesday revealed how Sam Bankman-Fried really felt about regulators: “F*** regulators.” … more
FTX US slams govt
Bahamas – FTX Trading Ltd. said it has credible evidence that the government of The Bahamas directed unauthorized access to its systems in order to obtain digital assets after FTX had filed for Chapter 11 bankruptcy in the US… more
New CEO of FTX outlines ‘complete failure of corporate controls’
Bahamas – FTX CEO John J. Ray III, who oversaw the Enron bankruptcy, and is now overseeing the same for FTX US and its affiliates said yesterday that never in his 40-year career has he seen “such a complete failure of corporate controls and such complete absence of trustworthy financial information” as he has seen at FTX… more
Securities Commission holding FTX assets in its own digital wallet
Bahamas – The Securities Commission of The Bahamas (SCB) said in a statement released late yesterday that it had assumed control of FTX Digital Markets’ (FDM) assets as of November 12 and transferred all digital assets of the company to a digital wallet it controls “for safekeeping”… more
US senators request complete accounting of FTX [body]
Bahamas – United States Senators Elizabeth Warren and Richard Durbin have requested “a complete and transparent accounting of the business practices and financial activities” in the lead up to and following the collapse of Bahamas-headquartered FTX… more
Watson defends govt’s response to FTX collapse
Bahamas – PRESS Secretary Clint Watson yesterday defended government’s response to FTX’s collapse, insisting that officials are communicating with the public as they get new information in relation to the embattled cryptocurrency exchange… more
Saturday, 19 November 2022
Colour Bank hopes to provide diaspora with solutions
Trinidad and Tobago – Aldwyn Wayne is all about finding solutions. The founder and CEO of WiPay has also recently established Colour Bank, a US-based neobank which is focused on driving financial inclusion for the urban culture by providing banking and financial solutions that meet the community at its point of need… more
Sunday, 20 November 2022
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