Gov’t looking into cryptocurrency & tourism to boost economy
Premier Fahie made the comments during the Tuesday, May 28, 2019, edition of 'Honestly Speaking' on ZBVI 780AM, where he told host Mr Claude O. Skelton-Cline that the administration is looking into tourism as the saving grace if and when the economy starts to feel the effects of a poor performing financial services sector.
‘VI on a good foundation’ – Premier Fahie
“We’ve accomplished a good bit in the three months, with anything they’ll always be the challenges, and I think that we [are] on a good road, setting a good foundation for where we want the territory to go especially in areas like tourism,” Premier Fahie told the listening audience.
Further, he said, “We’re in the process of recalibrating how we operate in the tourism industry because we realise that the financial services industry which has done us well and will continue to do well for us, has been under attack especially internationally.”
Days after taking office following the February 25, 2019, elections victory, Premier Fahie met an international conundrum regarding the decision by the United Kingdom (UK) to have the VI implement Public Registers of Beneficial Ownership.
While the Public Registers of Beneficial Ownership requirement was extended to December 2023 for implementation, Hon Fahie had warned that some in the UK Parliament House of Commons were pushing orders to have the implementation date be reverted to December 2020.
“We always know that some of the effects from those international attacks will be felt more so from the starting of this year… especially heavier into the year 2020,” the Premier told Mr Skelton-Cline and by extension, the listening audience.
Cryptocurrency
He said, “that [industry attacks] was known even before we took office, so we still have to watch it and see for when it comes on… but don’t wait until that happens,” the Premier noted in revealing that the territory is taking preparatory measures to counter the effects.
“So we’ve invested heavily in the tourism industry we’re also looking at other industries that we’re looking at with the cryptocurrency to see how that can mesh into what we are doing and other niche areas that we are looking at including how to train our people to make sure that they are trained and qualified,” he said.
Cryptocurrency such as Bitcoin and Ethereum is a digital currency in which encryption techniques are used to regulate the generation of the currency and verify the transfer of funds, operating independently of a Central Bank.
13 Responses to “Gov’t looking into cryptocurrency & tourism to boost economy”
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