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Blockchain technology has the potential to revolutionize the way business is done in The Bahamas

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#Bahamas, February 2, 2018 – Nassau – Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest said that Blockchain technology has the potential to revolutionise the way business is done in The Bahamas.

During the “Understanding Blockchain Technology Applications: What You Need to Know” workshop hosted by the Inter-American Development Bank (IDB) at Baha Mar Convention Centre, Wednesday, January 31, 2018, the DPM added that Blockchain technology has the ability to propel the country in a really dramatic way from where it is today to being a true leader in terms of technology and the way business is done as well as the ease of doing business.

The workshop was facilitated by Chris Jagers and Natalie Smolenski from the Learning Machine Lab at Massachusetts Institute of Technology (MIT).  DPM Turnquest explained that with the Assistance of the IDB, he and several colleague Ministers toured the MIT Lab last year and saw the potential that the technology has for The Bahamas.

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“When a lot of people think of Blockchains, they think about cryptocurrency.  That is just one aspect of it.  That is something we are doing some research into to see how we will be able to capitalise on it.

“More importantly than that is the way we can use this technology to improve the quality and efficiency of our daily lives.”

He gave the illustration of the Government potentially using the technology to create electronic records that are “indisputable”, which would then lead to a system where records could be produced that individuals could carry around in the form of an electronic passport that they can take to any bank where they want to open an account.

“If we had this electronic ID card if you will, you could walk into the bank, present your ID with your access code, they could look at your records, verify who you are via your information and away you go in minutes.  That is what we are talking about it.”

As it stands now, he said it takes weeks or months for Bahamians and six to eight months for foreign nationals to open a bank account, which is “a very inefficient and frustrating process.”

The DPM also noted that the Government is looking at how Blockchain technology can be useful in producing a proper land registry, employing it with companies registering with the government.

Blockchain workshop“There are a whole host of opportunities that exist as a result of this technology and we want to explore it all and take our country to the cutting edge.”

IDB Country Representative, The Bahamas Florencia Attademo-Hirt explained that emerging technologies like Blockchain have been making waves all over the world in recent years.

She said, “Very simply put, Blockchain is a digital technology able to store and transport valuable information and assets securely.

“Blockchains were first used to record transactions of digital money (cyrptocurrencies), but since those early days, there have been other uses and applications of this technology.”

Mrs. Attademo-Hirt noted that Blockchain technology has the ability to manage a large amount of data accurately allowing for it to not be tampered or altered, and could be either very transparent or confidential.

“In The Bahamas, we think we can apply blockchain to a number of areas beyond cyrptocurrencies or even the Financial Sector.”

She said one of the goals of the workshop was to convince stakeholders as well as get their feedback on the usefulness of Blockchain Technology in The Bahamas in the area of sovereign citizen security and justice, in particular the information that is being handled by the justice system.  Another goal was to see if the technology could be used for education and training in the sense of keeping records and diplomas available and making them easily accessible to their owner of the records, employers and learning institutions.

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Mrs. Attademo-Hirt said they really also want to establish how useful it would be for land title registration.

“We would really like you to give us your ideas even if you feel like Blockchain might not work for The Bahamas, if you feel that it is not the solution, if you are afraid of using the technology, if you fear people need to be trained in a way that they will not be able to.

“We will like to hear all of your thoughts and your feedback to make sure that whatever investment that we do moving forward using this or other technologies, it is relevant to your country, helps improves lives in your country and helps Bahamians have a better prospect for their future,” Mrs. Attademo-Hirt said.

 

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Deputy Prime Minister and Minister of Finance the Hon. Peter K. Turnquest opens “Understanding Blockchain Technology Applications: What You Need to Know” workshop hosted by the Inter-American Development Bank (IDB) at Baha Mar Convention Centre, Wednesday, January 31, 2018.  (BIS Photo/Derek Smith)

 

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Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest; Minister of Transport and Local Government the Hon. Frankie Campbell and Inter-American Development Bank Country Representative, The Bahamas, Florencia Attademo-Hirt attend the Blockchain workshop.  (BIS Photo/Derek Smith)

 

 

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C&W COMMUNICATIONS PROUD TO BE ASSOCIATED AS ATHLETES “CHASE THE SUN”

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World Relays to be title sponsored by BTC, one of C&W’s local brands.

 

In just a few days, athletes from over fifty countries will converge in The Bahamas for the BTC World Athletic Relays Bahamas 24. C&W Communications, the parent company of BTC, is proud to be associated with this major event, which will see athletes from The Bahamas, Barbados, Jamaica, and Trinidad & Tobago competing for a place in the upcoming Olympic games in Paris.

Inge Smidts, CEO of C&W Communications, who also serves as Chair of the BTC Board of Directors will be in the stands to witness the highly anticipated relays. Smidts says, this was an event that she simply could not miss. “We are proud to support our Caribbean athletes, and we wish them well as they vie for a spot in the Olympic games.

The relays will be held one of in our markets, The Bahamas, and we are honoured to be the title sponsor of the event. The world relays represent the spirit of relentless courage and the willingness to succeed of the Caribbean people and of our business. Through partnerships like this we demonstrate our unwavering commitment to connect communities and change lives.”

In addition to its sponsorship of the event, Smidts says it was important that athletes, officials, and fans stayed connected during the games. “As a business we are focused on ensuring that our customers have access to faster, stronger, and more reliable connectivity, and we worked with our partners to make certain that athletes and guests remain connected.

We have offered e-sim cards, and we also worked with the major hotels to set up care centers to ensure that we address any connectivity concerns on the spot. Additionally, I am pleased to announce that BTC will provide free Wi-Fi at the stadium giving patrons and athletes the opportunity to share every riveting moment.”

BTC has hosted a special event just for the Caribbean athletes, at the newly renovated Queen’s Staircase in Nassau, a recently renovated historic landmark visited by thousands of tourists each day. This event gave athletes the opportunity to unwind, mingle, and to learn more about each other right before the competition.

This is the fourth time that BTC and its parent company C&W Communications have title sponsored the world relays. The BTC World Athletic Relays will be held at the Thomas A. Robinson Track & Field Stadium from May 4-5, under the theme, “Chase the Sun, from Paradise to Paris.”

 

 

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RBC appoints new Country Manager and Area Vice President for Turks & Caicos 

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RBC Royal Bank (Bahamas) Limited (“RBC”) is pleased to announce the recent appointment of Kerryl-Lyn King-Henry as Country Manager and Area Vice President (“AVP”), Personal and Commercial Banking, Turks & Caicos Islands (TCI).

In her new role as Country Manager and AVP, King-Henry will take on full responsibility for the bank’s operations, strategy, and development in the TCI market, with a strong focus on solidifying partnerships with the Government, regulatory bodies, and the local community.

King-Henry brings to the role a dynamism influenced by nearly 25 years of industry experience. Prior to her new appointment, she served as AVP of Business Banking in Trinidad and Tobago. She has held progressively senior roles within both personal and commercial banking, as well as various functional units.

King-Henry holds a Master of Business Administration (MBA) degree, with a specialization in Leadership, FinTech and Big Data Analysis, in addition to a Bachelor’s Degree in Business Administration. Further enriching her professional profile, Kerryl-Lyn is a certified John C. Maxwell Coach, Trainer, Teacher, and Speaker. Her passion for leadership and development is matched by her commitment to community service, as she actively volunteers her time and leverages her professional expertise to mentor and support others. “

Kerryl-Lyn’s extensive experience and proven leadership capabilities make her the perfect choice to lead our operations in the Turks & Caicos Islands,” said Ericka Rolle, RBC’s Managing Director and Vice President, Personal Banking, The Bahamas and TCI.

“Her commitment to excellence, combined with a genuine passion for community engagement, aligns perfectly with our Bank’s purpose of helping clients thrive and communities prosper. We are excited to see the positive impact she will undoubtedly bring to her new role,” she added.

 

 

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Get your laugh on, March On show coming to Turks and Caicos with box office at IGA Friday and Saturday

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Dana Malcolm 

Staff Writer 

After resounding success in the Bahamas, hit play ‘March On, The Story of Us’ has been inundated with requests to take their show on the road, and the first location they’ll be hitting is Providenciales Turks and Caicos with tickets on sale this weekend from May 3 to 5.

Magnetic Media spoke to Gea Pierre, playwright, who told us the TCI was a natural first choice for the cast and crew. 

“We started ‘March On’ in November 2023 and it was really an opportunity for us to tell a story, the story of the Bahamas and to encompass the nations that we have an amazing relationship with like the Turks and Caicos,” she continued “We really got a lot of people calling [for the play] from [the TCI], so much so we really had to pay attention.” 

The response to ‘March On’ at home and abroad was overwhelming.

“To say it went well is an understatement, even before we opened we got calls from Canada, from all over the US with people wanting us to come and perform.” 

And take the show on the road they did! Gea and her team have launched “March On: The Tour” and will be in Providenciales to perform on May 10th and 11th. It’s the first of a number of stops which include Nassau and several US locations. 

A ticket booth will be set up from today, Friday May 3 in the foyer of IGA grocery store beginning at 1 p.m. Friday and then again all day on Saturday, allowing residents to purchase with cash. 

Online tickets are available for purchase with credit cards. Then the full team returns on Friday, May 11 for the actual showing at 8 pm and their two showings on Saturday at 4pm and 8 pm. The venue is Brayton Hall, Providenciales under the patronage of Washington Misick, TCI Premier and First Lady Delthia Misick.

Describing the close familial relationships between the TCI and the Bahamas, for many on the crew it will be like coming home Gea told us, for others it will be a treat to visit for the first time, the places that their grandparents described. 

Tickets are only $60 for general seating and $75 for VIP seating. 

Gea maintained that the team wanted to keep the show as accessible to residents as possible.

As for why you should come out and see the play, other than the great price point:

“The way that people have responded to it is non stoplaughter, people have been moved to tears because there’s some emotion. It does not only lend to Bahamians. It’s a family drama, and anyone who’s ever been a part of a family is going to get something out of it, and something moving.”

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