Cayman Islands Tech

Blockchain itself always was about a change in methods and business level protocols not just a change in tech. CBDC is the same – it is about legal and tech change. To implement CBDCs huge legal change is needed. The IMF already stated 61 percent of jurisdictions do not even allow digital currencies but 90% are considering them.  

In the Cayman Islands the legal and tech framework is already setup to enable a CBDC infrastructure. The Cayman Islands itself is well known for its regulatory freedom allowing vast sums of money to flow in and out for hedge fund investments.

The Cayman Tech City is designed to harbour the world’s finest innovative changes. This includes Launch Labs.

The Cayman Islands has the Virtual Asset (service provider) law and is compliant with FATA.

CBDCs have meet much joy in Island communities with many now implementing CBDCs in test or even live for the  central bank in the Bahamas.  

The case for a CBDC is Cayman Islands is made out, most recently at  CYDEC when Marla Dukharan spoke pushing CBDC adoption in the Cayman Islands. She is the Chief Economist at Bitt.

There is little doubt when the Cayman Islands does adopt CBDCs then the legal and technology framework will easily allow this change; and the benefits will be significant.

By cryptorocks_editor