With China’s digital RMB cross-border settlement system now fully connected to the ten ASEAN countries and six Middle Eastern nations, questions must be asked about the continued utility of the SWIFT system used by financial institutions worldwide, and we in the Caribbean region could learn from this recent development.
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Following up on a 2022 conversation we had about digital currencies in the Caribbean region, Dr. Jan Schröder of CaribCoin, and Rodney Taylor of the Caribbean Telecommunications Union are back to provide an update on CaribCoin, a regional stablecoin backed by Caribbean assets that will provide a faster and more cost-effective alternative for regional cross-border payments that can also foster Caribbean prosperity. Areas touched on during this conversation include: the value proposition of CaribCoin and the role it could play in strengthening the resilience of the region; success and risk factors associated with the integration of CaribCoin; the safety measures that have been put in place to foster trust in CaribCoin; and what is next for CaribCoin.
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The rejection of digital wallets and contactless payment options by Jamaican merchants seems to be growing with no end in sight. Potentially, there are far-reaching implications than just requiring customers to use other forms of payment.
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In our first episode for 2025, we are starting a new series in which we showcase Caribbean tech entrepreneurs and startups that are doing incredible things in or for the region. Our first guest is Jarryon Paul, the Founder of Sunshine, a stablecoin exchange based in Trinidad and Tobago. In this conversation, we learn more about Jarryon and his entrepreneurial journey to date, which started when he was 10! Further, we discuss Sunshine, the problem it is trying to solve, and why stablecoins may be more important (and even valuable) than fiat currency. Jarryon also shares his thoughts on some of the regional payment options that are under consideration and being piloted, along with where he hopes to see Sunshine in the not-too-distant future.
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A roundup of the latest ICT/technology news from across the Caribbean region for the period Monday 30 September to Sunday 6 October 2024.
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