[ Intro ] -- [ Why ] -- [ What ] -- [ How ]
On this page we explore the various problem/opportunity sets we can come up with related to the blockchain technology space. The page represents an exploration of 'why' for the support and adoption of the technology in the region. The problems & opportunities have been grouped into two sets:
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Caribbean region/country specific items (🌴)
These are the areas that could be suitable for attracting the technology to be supported or adopted in some way in the region.
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Blockchain technology specific items (🔗)
These are the items that are specifically related to the technology that we must address so that the technology can be supported or adopted successfully in the region.
Countries within the region have been working on finding viable alternative sources of national revenue as traditional forms (tourism, finance etc.) start becoming less resilient. Given the nascent nature of the blockchain space, there exists a potentially lucrative revenue/progress generating opportunity if various countries can capture first-mover advantages effectively.
When compared with our counterparts in other countries, the Caribbean has been slower at adopting and leveraging digital technologies to improve services in both the public and private sectors. This new technology space presents the potential to leapfrog over older solutions and implement more modern ones for tackling our local challenges and capitalising opportunities.
There have been many past attempts at unifying the region in various ways, but it still remains separated in many ways today. The Caribbean could find significant strength in operating as a single body in certain areas, and this possibility presents an enticing reason to revisit some of those earlier attempts and rethink how we might unify the region along certain lines again.
The relative small size of many Caribbean countries in the past has come with its unique sets of challenges and opportunities. Individual countries could find ways to leverage this technology to create outsized impact or realise outsized benefits in spite of their sizes.
Blockchain technology represents an entirely new and unexplored technology space. Given its nascent nature, there is much about the space that is not-yet-developed and still being actively figured out. To persons who are not at the forefront of this development, there is a need for active translation and contextualisation of how the technology works and how it might be deployed, either for testing purposes or for actual usage.
Given that the blockchain adoption agenda has traditionally been pushed by small/individual actors in an as yet underdeveloped space, credibilty has often been a problem when trying to work with more established groups and institutions.
As the space has developed, we have seen a number of misplaced narratives, critical but unfair interpretations and even outright attacks related to various aspects of blockchain technology.
Given the nascent nature of the technology, we have seen a few inititatives in the region meant to explicitly defraud persons. These initiatives capitalise on the fact that the space is still so misunderstood at all levels of our society.