The trouble is that everyone in the process doesn't know what they don't know. That is where the failure comes from. They don't know that there is blockchain that is not cryptocurrency. There is blockchain without Bitcoin. That is the blockchain that will dominate our lives.
Because the players don't know a damn thing, nothing gets done. Do you remember the newspaper article where Keith Davies of BISX told Neil Hartnell that he was all over crypto and listing ICOs on BISX? Made it sound like it was just days away. Either he was bullsh*tting or talkin' biggety without knowing anything about it.
The CEA is a joke, especially when you compare to Cayman where you get a 5 year work visa in 5 days for you AND your employees. And on top of that, you get a year free of not paying duty on stuff that you import. And they introduce you to the other major blockchain players. Cayman had a $3 billion ICO. They have a DIstributed Digital Exchange with 200 cryptocurrencies on it. They have an AML/KYC blockchain solution operating there. Cayman Finance travels around the world, selling their financial services. The biggest law firm on the island has its own developers and 8 CISOs (Certified Information Security Officers) on staff to protect their data.
Where the Bahamas failed in trying to make the tech hub, was to give the job to Moxey who doesn't understand emergent technology and current trends in technology startups. They should have given the committee chairman job to the creators who know/use/exploit the technology, and not a committee of non-experts who don't know more than what google tells them.
This regulation, cobbled together by committee, will be the final nail in the coffin of the dream to create a tech hub on Grand Bahama.
Moxey is the smartest man in the room. He has a PhD in Engineering Materials -- specifically opto-electronics. He is a hardware engineer. He may have the theoretical background as a graduate Electrical Engineer to run the power company, but to my knowledge, he has never practised in the field. No practical experience. His specialty is mobile app development. He has never worked in Fintech, nor does he understand the dynamics of it.
Too late. Our lunch is ate and already pooped out. Cayman Islands has no crypto regulations and close to 60 blockchain companies. https://www.caymanenterprisecity.com/bl… Here is a blurb from the website:
>There’s arguably no faster way to do this than in Grand Cayman – where you can incorporate within 48 hours with the right paperwork and (unlike in places such as Bermuda) there’s no need for approval from the Minister of Finance. At Cayman Enterprise City we make this process even more easy by providing you with fast 5-year renewable work permits (where required for staff) and physical spaces, as well as a pre-established network of blockchain contacts on-island that you can use for your professional and personal growth.
Moxey doesn't understand blockchain, nor does anyone at the BFSB. These regulations will kill any sort of blockchain development in the Bahamas and drive more business to Caymans. I had hope that blockchain might revive financial services, but unfortunately we are too stupid to capitalise on a golden opportunity that could have dropped into our lap.
Instead, like a stupid preacher, we must make all sorts of rules and makes sure that the government gets some sort of say and cut. Bahamas will continue to be the backwards cousin in the Caribbean because of our mindset.
LOL @ financial services. We don't have any real financial services that sophisticated High Net Worth Individuals really want. We are still pirate hidey-holes for money hiding from the tax man, and those "financial services" are dead man walking.
The Chamber should immediately request the resignation of Sumner. It just means that they tolerate tainted ethics and white collar crime. At a minimum, he should be stripped of his job. The Chambers wears the perfidy of Sumner if it doesn't clean house, making it a corrupt entity as well.
Sigh ... there goes the life dreams of hundreds of vimmins. Myles Munroe use to say dat you should make your money doing stuff that you are good at and enjoy. Ole Rupert is killin' da dreams of dems who are good at juicin' in da cooler an' gittin' paid fer it. How irresponsible and reckless. He should pay more to dems butchers who cut off slices and beat the meat.
banker says...
The trouble is that everyone in the process doesn't know what they don't know. That is where the failure comes from. They don't know that there is blockchain that is not cryptocurrency. There is blockchain without Bitcoin. That is the blockchain that will dominate our lives.
Because the players don't know a damn thing, nothing gets done. Do you remember the newspaper article where Keith Davies of BISX told Neil Hartnell that he was all over crypto and listing ICOs on BISX? Made it sound like it was just days away. Either he was bullsh*tting or talkin' biggety without knowing anything about it.
The CEA is a joke, especially when you compare to Cayman where you get a 5 year work visa in 5 days for you AND your employees. And on top of that, you get a year free of not paying duty on stuff that you import. And they introduce you to the other major blockchain players. Cayman had a $3 billion ICO. They have a DIstributed Digital Exchange with 200 cryptocurrencies on it. They have an AML/KYC blockchain solution operating there. Cayman Finance travels around the world, selling their financial services. The biggest law firm on the island has its own developers and 8 CISOs (Certified Information Security Officers) on staff to protect their data.
Where the Bahamas failed in trying to make the tech hub, was to give the job to Moxey who doesn't understand emergent technology and current trends in technology startups. They should have given the committee chairman job to the creators who know/use/exploit the technology, and not a committee of non-experts who don't know more than what google tells them.
This regulation, cobbled together by committee, will be the final nail in the coffin of the dream to create a tech hub on Grand Bahama.
On Crypto, ICO rules completed within ‘the next 30 days’
Posted 21 September 2018, 12:06 a.m. Suggest removal
banker says...
Moxey is the smartest man in the room. He has a PhD in Engineering Materials -- specifically opto-electronics. He is a hardware engineer. He may have the theoretical background as a graduate Electrical Engineer to run the power company, but to my knowledge, he has never practised in the field. No practical experience. His specialty is mobile app development. He has never worked in Fintech, nor does he understand the dynamics of it.
On Crypto, ICO rules completed within ‘the next 30 days’
Posted 20 September 2018, 7:36 p.m. Suggest removal
banker says...
Pump and dump news.
On Oil explorer shrugs off end to ‘exclusive’ talks
Posted 20 September 2018, 12:36 p.m. Suggest removal
banker says...
Too late. Our lunch is ate and already pooped out. Cayman Islands has no crypto regulations and close to 60 blockchain companies. https://www.caymanenterprisecity.com/bl… Here is a blurb from the website:
>There’s arguably no faster way to do this than in Grand Cayman – where you can incorporate within 48 hours with the right paperwork and (unlike in places such as Bermuda) there’s no need for approval from the Minister of Finance. At Cayman Enterprise City we make this process even more easy by providing you with fast 5-year renewable work permits (where required for staff) and physical spaces, as well as a pre-established network of blockchain contacts on-island that you can use for your professional and personal growth.
Moxey doesn't understand blockchain, nor does anyone at the BFSB. These regulations will kill any sort of blockchain development in the Bahamas and drive more business to Caymans. I had hope that blockchain might revive financial services, but unfortunately we are too stupid to capitalise on a golden opportunity that could have dropped into our lap.
Instead, like a stupid preacher, we must make all sorts of rules and makes sure that the government gets some sort of say and cut. Bahamas will continue to be the backwards cousin in the Caribbean because of our mindset.
On Crypto, ICO rules completed within ‘the next 30 days’
Posted 20 September 2018, 12:34 p.m. Suggest removal
banker says...
LOL @ financial services. We don't have any real financial services that sophisticated High Net Worth Individuals really want. We are still pirate hidey-holes for money hiding from the tax man, and those "financial services" are dead man walking.
On QC: Bar must open for financial services
Posted 20 September 2018, 7:43 a.m. Suggest removal
banker says...
LOL @ neoliberal economic policies.
Somebody is not putting enough water in the KoolAid.
On EDITORIAL: As millions flee seeking a better life we must honour our laws
Posted 20 September 2018, 7:41 a.m. Suggest removal
banker says...
The Chamber should immediately request the resignation of Sumner. It just means that they tolerate tainted ethics and white collar crime. At a minimum, he should be stripped of his job. The Chambers wears the perfidy of Sumner if it doesn't clean house, making it a corrupt entity as well.
On Chamber endorses CEO over 10-year securities barring
Posted 13 September 2018, 3:42 p.m. Suggest removal
banker says...
Not good enough. He committed the cardinal sin of dipping into clients' funds. He belongs in jail.
On Bahamian banker’s life ban on $17m collapse
Posted 12 September 2018, 2:39 p.m. Suggest removal
banker says...
They prolly enjoyed dressing up as vimmins. PLP no doubt.
On UPDATED: Men dressed as women rob Freeport John Bull store
Posted 24 July 2018, 10:24 a.m. Suggest removal
banker says...
Sigh ... there goes the life dreams of hundreds of vimmins. Myles Munroe use to say dat you should make your money doing stuff that you are good at and enjoy. Ole Rupert is killin' da dreams of dems who are good at juicin' in da cooler an' gittin' paid fer it. How irresponsible and reckless. He should pay more to dems butchers who cut off slices and beat the meat.
On Rupert Roberts' pregnancy comments 'reckless'
Posted 23 July 2018, 10:17 a.m. Suggest removal