In the last article, we highlighted the fact that the number of countries with a positive and even friendlier attitude towards cryptocurrencies is increasing, with each country trying to implement the best into its system. The Bahamas is another country that could have a very interesting future, as the Prime Minister of this country, Philip Davis, believes that blockchain technology has the potential to right the wrongs caused by climate change in the country and also to modernize state systems.
“We [have] recognized the space of crypto, recognized that it’s here to stay and that the 20% of GDP that I had lost because of the intervention of the industrialized world, that was the way to replace it.”
Such a statement came at the 2022 Concordia Americas Summit where Prime Minister Davis discussed carbon emissions with Prime Minister Ralph Gonsalves of Saint Vincent and the Grenadines. Climate change is a huge problem not only in the Bahamas, but around the world, and Davis believes that at least half of the nation’s debt is related to borrowing capital to help the country cope with the various adversities it has endured.