You Can Now Become a Citizen of Antigua and Barbuda Using Cryptocurrencies

The Caribbean Islands have taken another step to embrace cryptocurrencies. The government now accepts cryptocurrency payments for its citizenship program.

Antigua and Barbuda have long made clear its fondness for the digital currencies. Last year, in April, the sovereign state was looking into drafting a law allowing the use of cryptocurrencies to pay for governmental services.

Prime Minister is Not Afraid To Show His Enthusiasm For Crypto

Roughly a year later, its wish has come true. On July 23, Antigua and Barbuda amended the Citizenship by Investment Programme Act (CIP) to allow payments made in Bitcoin or other cryptocurrencies, as well as Euro and other fiat currencies.

Prime Minister Gaston Browne explained, “So not only are we providing the capacity for payment in Euros, but we are also providing for payments using bitcoin and other cryptocurrencies. Moving money is important, and if you cannot move money, you cannot receive it. So it is quintessential that we have a payment mechanism that could facilitate payments in cryptocurrencies.”

The Prime Minister claims there are several cryptocurrency investors interested in becoming citizens of the Caribbean Islands. Browne believes these individuals should be included in the program and allowed to pay using digital currencies if they wish to do so.

Antiguans Will Be Able To Use National Cryptocurrency in Their Daily Lives

Changes to the CIP regulations will allow it to open offshore accounts to receive the digital payments. Browne guaranteed all payments made in cryptocurrencies would be traded for US dollars daily to reduce exposure to the digital currencies.

Earlier this year, the sovereign state announced it would hold its own Initial Coin Offering (ICO). Called the Initial Coin Offering for Development (ICOD), the Ethereum project will release the Antigua Development Coin (ADC) which can be used by Antiguans in their daily lives, using the Antigua eWallet. Reportedly, Antigua and Barbuda also decided to launch a cryptocurrency exchange hoping it will contribute for the nation’s treasury.

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India is Building a City with the Help of Blockchain

Newly formed Southern Indian State calls for a new capital. The nation decided to turn it into a state-of-the-art smart city.

The Capital Region Development Authority (CRDA) of Andhra Pradesh, the new Indian state, has been approaching landowners since December 2017 to educate them on what blockchain technology is.

Indian Officials Bet on Blockchain for Security

The commissioner of CRDA, Cherukuri Sreedhar, believes the blockchain will help this enterprise keep its records straight. In a recent interview to Quartz India, he said,

“We want to give a very clear, risk-free kind of title to the farmers. One of these steps (blockchain) is to ensure the data that is with the CRDA is safe and can be traced back at any given point of time so security of title is always maintained.”

The CRDA was the agency tasked with developing and designing the new capital and it has been pooling land to build Amaravati, the new capital. The blockchain has been used to streamline the whole process — registration, allocating plots, storing the data, — and prevent fraud.

Landowners are Onboard and Pleased with the Novel Approach

Thanks to automation, the use of blockchain will also save money to farmers — there is no need now to hire a document writer to draft registration papers. Tharigopula Sambasiva Rao, a 50-year-old landowner who gave up his land, praised the initiative, saying,

“Now we don’t have the headache of hiring a document writer to prepare our papers. With this new technology, we knew there would be full security, no double registrations, no duplicates.”

An India-based blockchain solutions provider, Zebi, worked with governmental officials to bring the technological city to life. Babu Munagala, co-founder and CEO at Zebi, believes this blockchain-powered enterprise will prevent data tampering and hacking attacks — all data is available to landowners to ensure transparency.

The CRDA insisted this blockchain-solution will not only stop criminal and malicious activities but also serve as a guarantee for the future. Regardless of whatever happens, the land registrations in the blockchain are permanent and will be the key to solving future disputes.

crypto is coming.

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