Lynn Johannson, Advisor, Sustainability and ESG
January 4th, 2024
Lynn Johannson, President of E2 Management Corporation and Catalyst for THE Collaboration
In a care[...]
Eastern Caribbean Central Bank to Issue World’s First Blockchain-Based Digital Currency
Caribbean 360 | March 7, 2019
BASSETERRE, St Kitts and Nevis, Thursday March 7, 2019 – The Eastern Caribbean Central Bank (ECCB) and the Barbados-based fintechcompany, Bitt Inc. (Bitt) have signed a contract to conduct a first-of-its-kind blockchain-issued Central Bank Digital Currency (CBDC) pilot within the Eastern Caribbean.
The Bank, which serves as a central bank for Antigua and Barbuda, Dominica Grenada, St Lucia, St Vincent and the Grenadines, St Kitts and Nevis and Montserrat, disclosed yesterday that the contract was signed late last month at its headquarters in St Kitts and Nevis.
This ECCB’s CBDC pilot will involve a securely minted and issued digital version of the EC dollar (DXCD). The digital EC dollar will be distributed and used by Licensed Financial Institutions and Non-Bank Financial Institutions in the Eastern Caribbean Currency Union (ECCU). The DXCD will be used for financial transactions between consumers and merchants, including peer-to-peer transactions, all using smart devices. For example, an individual in St Kitts and Nevis will be able to send DXCD securely from his/her smartphone to a friend in Grenada in seconds – and at no cost to either party.
See: United States: Recent Congressional Action Involving Digital Assets And Blockchain Technology
ECCB Governor Timothy Antoine emphasized that the Bank was going a step further than previous CBDC research and experiments.
“This is not an academic exercise. Not only will the digital EC dollar be the world’s first digital legal tender currency to be issued by a central bank on blockchain, but this pilot is also a live CBDC deployment with a view to an eventual phased public rollout,” he explained. “The pilot is part of the ECCB’s Strategic Plan 2017-2021 which aims to help reduce cash usage within the ECCU by 50 per cent, promote greater financial sector stability, and expedite the growth and development of our member countries. It would be a game-changer for the way we do business”.
CEO of Bitt Inc., Rawdon Adams thanked the ECCB for choosing his company which has as its mission, the practical application of cutting edge technology to solve persistent financial problems.
“It is about a successful currency union building on its impressive record of financial stability, development and integration to deliver a quantum improvement to the lives of all its 630,000 citizens. Enhancing economic growth and the quality of life of ordinary people is the aim,” he said.
Continue to the full article --> here
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Funding | April 9, 2025 Toronto’s Tailscale Secures $230M and $2B Valuation for Identity-First Networking On April 8 2025, Toronto-based Tailscale announced that they raised $230 million CAD Series C (about $160 million USD), valuing the company at approx $2 billion CAD. The round was made up of U.S. investors, led by Accel, CRV, Insight Partners, Heavybit, and Uncork Capital, along with some prominent individual investors notably George Kurtz CEO of CrowdStrike (returning investor) and Anthony Casalena CEO of Squarespace. New funds will be used to grow product and engineering teams, expand globally, and improved support for fast scaling customers. Tailscale - A Shift from IP Addresses to Identity Tailscale was founded in 2019 by former Google engineers Avery Pennarun, David Crawshaw, David Carney, and Brad Fitzpatrick, and officially launched in April 2020 to help users connect devices and apps securely without relying on traditional VPNs, IP rules, or firewalls. Tailscale uses a technology called WireGuard which is easy to setup and lets devices connect directly to each other, safely and privately. What's unique about Tailscale is its approach to solving networking challenges. Instead of relying on where a device is located (IP address), it focuses on who or what is connecting. This ...
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