Antigua and Barbuda Drafts Laws to Implement Bitcoin

Antigua and Barbuda Drafts Laws to Implement Bitcoin

Antigua and Barbuda Drafts Laws to Implement Bitcoin
 

The government of Antigua and Barbuda is drafting laws “for the implementation of Bitcoin,” according to a local publication. The decision may have been influenced by online gambling mogul Calvin Ayre and even self-proclaimed “Bitcoin creator” Craig Wright.

The Cabinet of the twin-island country Antigua and Barbuda has instructed their Attorney General, Steadroy Benjamin, “to draft laws for the implementation of Bitcoin,” reports the Antigua Observer. Antigua and Barbuda is a Commonwealth nation located in the Caribbean Sea, east of Puerto Rico.

The move follows the Cabinet’s meeting with a group connected with the Antigua Leisure and Gaming Association on Wednesday, the publication describes, adding that Bitcoin was discussed as “a new method of transacting the sale of goods and services.”

At the post-Cabinet briefing on Thursday, the Minister of Trade and Consumer Affairs, EP Chet Greene said: “Here in Antigua & Barbuda we know we are always very much front and centre of new developments; we are leaders, trendsetters in the Caribbean.” He then explained his country’s interest in Bitcoin:

This new currency [bitcoin] is immutable; you can always go and trace transactions, so in the context of allegations of our country being involved in tax havens, it allows for better traceability.

Primarily a tourism-driven economy, Antigua and Barbuda has a few casinos on the island as well as a growing Internet gaming industry. Greene also said: “The currency benefits us in Antigua & Barbuda in respect to our Internet gaming sector. It will allow us the satisfaction needed as a jurisdiction in respect to questions that would be asked of us in the global environment,” the Antigua Observer wrote.

Last June, Reuters reported that the self-proclaimed “Bitcoin creator” Craig Wright had been building a large portfolio of Bitcoin and blockchain patents. Applications for more than 50 patents were filed in Britain through Antigua-registered EITC Holdings Ltd, with plans to apply for about 400 patents in total. Originally known as Ncrypt, EITC Holdings later rebranded as Nchain following its acquisition by Sicav plc.
 

The Antigua Observer’s article erroneously notes that the price of bitcoin “has increased in value several times since it was patented.” Bitcoin is open source and uses the MIT license for free software, therefore it cannot be patented.

Moreover, a document reviewed by Reuters reveals that, in 2015, Wright “planned to propose to the Antigua government that the island adopt bitcoin as its official currency.” His proposal for Antigua reads: “Bitcoin is not just a currency.[…] It’s a new backbone and commercial foundation for the internet.”

Wright also has the backing of Calvin Ayre, a wealthy Canadian entrepreneur who lives in Antigua. Ayre has been indicted in the U.S. on charges of running illegal online gambling operations, which he has denied. He began construction of a $25 million call center in Antigua in October, claiming “it was part of his vision for Bitcoin and online gaming,” Reuters reported and quoted Ayre saying:

I see a growing convergence of Bitcoin, online gaming, virtual reality and gamification technologies, and progressive countries like Antigua are poised to take advantage of this convergence by developing a truly global services industry.

While the government prepares to draft the laws concerning Bitcoin, Greene is encouraging the public to learn more about the cryptocurrency online, the Antigua Observer reports.

 

David Ogden
Entrepreneur

Botswana Clinic Now Accepts Bitcoin As Cryptocurrency Takes Root in Africa.



Botswana Clinic Now Accepts Bitcoin As Cryptocurrency Takes Root in Africa

 

Bitcoin is gradually taking roots in Africa, although painfully slow. Nevertheless, there is refreshing news on a daily basis that makes the drive to push Bitcoin penetration in the so-called “hopeless continent” promising.

From brave women promoting adoption to startups using Bitcoin and the Blockchain to provide financial inclusion and prevent piracy, the number is endless. It is a great inspiration to the ecosystem and Africa stands to gain a lot from the spread of the crypto revolution.

Meanwhile, in the Southern African city of Gaborone in Botswana, a private clinic known as Sharada Clinic receives Bitcoin as a form of payment for treatment. Run by Dr. Donald Ariisa, it is the only health facility in the whole country that accepts Satoshis.

Cointelegraph couldn't resist talking to Dr. Ariisa and sharing his story with our copious readers. When asked where and how he heard about Bitcoin, he explained that he quite honestly couldn’t remember. "I enjoy watching technology shows, and I guess it was from there," he recalled.

Inspiration

The medical doctor pointed out that what attracted and inspired him to accept Bitcoin as a payment for treatment was the fact that his clinic is focused on adopting technologies that allow for sustainability in offering accessible services.

He, therefore, felt Bitcoin was a technology being embraced by the world and the youth, in particular, who may not have fiat money but may be involved in mining Bitcoin or working online for it.

It is in that direction that his clinic is striving to give access to those type of users, or anyone who would like to try out his/her Bitcoin.

Bitcoin is freedom

Dr. Ariisa confidently insisted he is not fazed at all by Bitcoin's volatility. "All new technology is volatile, and there will always be early adopters that will prove the technology viable," he remarked. He adds:

"I wish to be part of the birth of a new currency that creates so much freedom for humanity."

The Southern African physician also maintains that very soon he will not be alone in the steps he has taken. It is in his opinion that Bitcoin will become more popular in his country, and more businesses and entities will accept it as a form of payment.

"I'm always happy to see the satisfaction when patients pay for their healthcare with Bitcoin," he said excitedly. “My challenge is fully understanding the currency, but then again, we don't even understand the currencies we have been using for years.”

David Ogden
Entrepreneur

Contributor – Frisco d'Anconia( cointelegraph)