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The New Digital Economy – Basil Springer Column

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“All things were made through him, and without him was not any thing made that was made.”

– John 1:3

 

March 22, 2022 – I remember the days of the piggy bank and the savings account which were secure repositories for the precious pennies gained from our pocket money, birthday and Christmas gifts and earnings from odd jobs.

I am also reminded of the chorus of the 1967 calypso hit “Education” by Mighty Sparrow, the lyrical master: “Children, go to school and learn well, otherwise later on in life you will catch real hell; Without an education in your head, your whole life will be pure misery, you’re better off dead; For there is simply no room in this whole wide world, for an uneducated little boy or girl; Don’t allow idle companions to lead you astray, to earn tomorrow you have to learn today.”

These two memories inculcated a discipline of saving and investment when we entered the job market, which would later contribute to our own wealth and hence to the growth of our economies.

Investment instruments include real estate, entrepreneurship, stocks, bonds, mutual funds, bank products, pensions, insurance and futures.

Now, fast forward to the information and computer technology (ICT) age. The need for a safe repository for savings and investment funds is the same but the language now embraces the new additional digital economy and the currency is the new digital cryptocurrency.

The business opportunities to fuel economic growth have not changed, namely agriculture, blue economy, carbon trading, commerce, cultural industries, finance, manufacturing, mining, renewable energy, reparations and tourism.

However, thought leadership, management and workforce development have all shifted to the digital environment consisting of ICT, blockchains, cryptocurrencies and non-fungible tokens (NFT).

Economic progress has been dampened over the last two years by the scourge of the COVID-19 pandemic which has focused on vaccinating the public and practicing public health protocols to save lives, restore livelihoods and get children back in school before any long-lasting damage is done.

In the meantime, we have to acclimatize to this quickly moving digital tide, as a part of our daily routine, as we move toward more digital lives to help with humanity’s progress.

Blockchain technology is a mathematical, digital security system to record information in a way that makes it difficult or impossible to change, hack or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

Cryptocurrencies run on a distributed public blockchain ledger, a record of all transactions updated and held by currency holders. Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complicated mathematical problems and using peer-to-peer technology to facilitate instant payments.

NFT stands for non-fungible token. It’s generally built using the same kind of programming as cryptocurrency, but that’s where the similarity ends. Physical money and cryptocurrencies are “fungible”, meaning they can be traded or exchanged for one another.

An NFT is created or “minted” from digital objects that represent both tangible and intangible items, including art, messages, images, videos, collectibles, designer items and music.

Many years ago, Gabriel Abed, the son of a Barbadian neighbor, and Paul Sisnett, a Barbadian in Europe, tried to interest me in the blockchain cryptocurrency space with “Bitcoin” and “PAYWITH.GLASS” concepts, respectively … but sadly, I was “too busy at the time.”

Last week, however, I was introduced to NFTs, and this has once again piqued my interest.

In the context of the new digital economy, some Latin American countries are playing a lead role as they embrace these new transformative technologies. What’s our plan in the Caribbean?

 

Basil Springer Column

March 14, 2022

Caribbean News

Mottley Sworn in After Historic Clean Sweep in Barbados Election

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Barbados, February 12, 2026 – Prime Minister Mia Amor Mottley was this afternoon officially sworn in for a third consecutive term, hours after delivering one of the most emphatic election victories in Caribbean political history — another complete capture of all 30 seats in Barbados’ House of Assembly.

The ceremony, conducted by President His Excellency Lt. Col. The Most Honourable Jeffrey Bostic, marked the formal start of a new administration following the February 11, 2026 general election, which returned the Barbados Labour Party (BLP) to power with a renewed and overwhelming mandate.

In a statement after taking the oath, Mottley said she accepted the responsibility “with humility and resolve,” thanking the people of Barbados for placing their trust in her leadership once again and urging national unity as her government begins its new term. Attorney Wilfred Abrahams was also sworn in as Attorney General.

The result is historic not only for its scale but for its consistency. This is the third straight general election in which the BLP has won every constituency, reinforcing Mottley’s dominance in national politics and extending an unmatched era of one-party control in the modern democratic period.

Voting day unfolded under the watch of a CARICOM Election Observation Mission, led by Antigua and Barbuda’s Supervisor of Elections Ian Hughes and supported by senior electoral officials from Belize and Jamaica. The team engaged key institutions ahead of the poll and monitored the process across the island.

Regional leaders were swift in their congratulations.

Guyana’s President Irfaan Ali described the outcome as “emphatic and historic,” saying the clean sweep reflected how deeply Mottley’s leadership has connected with Barbadians and expressing optimism about strengthening ties between the two countries.

Jamaica’s Prime Minister Andrew Holness also hailed the victory, noting that her re-election provides an opportunity to deepen cooperation within CARICOM and advance shared regional priorities.

The scale of the win again leaves Barbados without a parliamentary opposition, a reality that has become a defining feature of the political landscape since 2018. Supporters argue the repeated mandate reflects public confidence in Mottley’s stewardship of economic reform, climate diplomacy, the transition to a republic, and Barbados’ expanding global influence.

Now, newly sworn in and backed by another unanimous parliamentary majority, Mottley begins a third term with both extraordinary political capital and equally high expectations at home and across the region.

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Caribbean News

Liberty Caribbean Committed to ‘Elevating Region’ at CANTO  

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Simone Martin-Sulgan, Vice President and General Manager, Flow Trinidad & Tobago

Liberty Caribbean is Diamond Sponsor of CANTO Connect 2026 and 42nd AGM

 

Port of Spain, TRININDAD & TOBAGO (February 1, 2026) — Liberty Caribbean, the operators of Flow. Liberty Business and BTC, has reaffirmed its commitment to turning regional connectivity into measurable economic and social outcomes as Diamond Sponsor of CANTO Connect 2026 and its 42nd Annual General Meeting.

CANTO is the leading regional body that brings together telecommunications operators, ICT providers, regulators, governments, and industry partners to support the development of the Caribbean’s digital and communications landscape.

Simone Martin-Sulgan, Vice President and General Manager, Flow Trinidad & Tobago delivered the sponsor’s address on behalf of Liberty Caribbean.

“The work of laying fibre and lighting towers is done; connectivity is now our foundation,” she said.

“The real task before us is to translate that foundation into innovation, productivity and prosperity for our people. Intelligent connectivity, such as networks designed for 5G, AI and IoT, will be the platform for smarter public services, more resilient systems and scaled opportunities for Caribbean entrepreneurs.”

Martin-Sulgan emphasised that infrastructure alone will not deliver sustainable progress.

“Digital progress must become digital prosperity. That means creating career pathways for young people, helping local businesses scale and ensuring citizens across our communities can fully participate in the digital economy. A connected Caribbean should also be a confident, creative and globally competitive Caribbean,” she said.

Liberty Caribbean is represented by a senior delegation at CANTO Connect to support the conference objectives of aligning policy, investment and execution across the region under this year’s theme ‘Elevate the Caribbean – From Connectivity to Global Competitiveness’.

Liberty Caribbean’s delegation includes Inge Smidts, Chief Executive Officer; Desron Bynoe, VP and General Manager, Flow Barbados; Susanna O’Sullivan, VP and General Manager, North Caribbean; Marilyn Sealy, Senior Director, Head of Communications; Dominic Boon, VP, People; Daniel Neiva, Chief Commercial Officer, B2B; Bradley Ramcharan, Director, B2B, Trinidad & Tobago; Yolande Headley, Country Manager, Dutch East Caribbean; and Jade Reymond, Country Manager, Flow Anguilla.

Martin-Sulgan thanked CANTO’s local secretariat for convening the forum and urged delegates to convert conversation into action.

“If we align policy, capital and capability, the Caribbean can move from connectivity to competitiveness. Liberty Caribbean will continue to invest in resilient networks, nurture homegrown talent and partner to deliver measurable social and economic value across our markets,” she said.

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Caribbean News

Adam Stewart named CNW’s Businessman/Philanthropist of the Year for 2025

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Executive Chairman of Sandals Resorts, Adam Stewart, has been named Businessman/Philanthropist of the Year for 2025 by the regional news publication, Caribbean National Weekly (CNW).

The publication recognised Stewart for his leadership in hospitality, his ongoing investments in regional tourism, his steady crisis response and his philanthropic work throughout what it described as a year filled with both remarkable achievements and significant challenges.

CNW highlighted how 2025 saw industry recognition for Stewart, major announcements of multimillion‑dollar developments across his all‑inclusive luxury resort brands and an invitation to join the prestigious Wall Street Journal CEO Council.

But the publication said his impact extended well beyond business milestones.

“In 2025, the Executive Chairman of Sandals Resorts didn’t just guide his iconic hospitality empire through crisis – he used its scale and influence to help shape Jamaica’s rebound and lay groundwork for future regional growth,” CNW wrote.

The defining moment, it said, came in late October when Hurricane Melissa caused severe damage to parts of Jamaica’s tourism infrastructure. Stewart responded by leading transparent communication with global travel advisors, partners and team members, and made a landmark pledge, that 100 per cent of Sandals and Beaches employees would remain on payroll and receive Christmas bonuses, even at resorts temporarily closed for extensive restoration and upgrades. The company also committed more than US$3 million in staff recovery aid, providing direct support to families affected by the storm.

CNW further highlighted the work of the Sandals Foundation under Stewart’s guidance, noting record levels of community engagement and targeted disaster‑recovery support in healthcare, livelihoods and the environment.

In response to the honour, Stewart said he was “deeply humbled” to receive the Businessman/Philanthropist of the Year recognition and expressed his gratitude to his teams and partners for their dedication during an extraordinary year.

“This award reflects far more than any one individual. It is a direct result of people showing up every day for their communities and believing business is a force for good. It belongs to the extraordinary teams who carry our shared vision forward – especially the Sandals Foundation, whose work continues to create lasting change across education, health care, disaster relief and environmental stewardship,” Stewart stated.

“To every colleague and partner who helps bring this mission to life – thank you for your commitment, heart and belief.”

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