The upcoming Finoverse D3 Bahamas Fintech conference, scheduled to be held at Atlantis next month, will hopefully help to refocus the blockchain and cryptocurrency market as the industry builds trust and clarity, especially in the regulatory space, Finoverse’s Head of Strategy & Content Will Haskins told Guardian Business yesterday.
He said the focus of this first ever D3 conference is building trust in digital assets.
He said with such a big focus on retail trading of cryptocurrencies, the real value of the product on a larger scale has been overlooked.
“This is a really important thing, not just for The
Bahamas, but I think globally, because there’s been so much focus for the last few years on getting individual investors involved in trading, buying and selling cryptocurrencies,” said Haskins.
“And frankly, that’s something that happens with a lot of innovations. The people that build up the first couple of business models, in many cases end up focusing on direct consumer plays, because it’s the biggest audience they can get. And it costs less to try and win an individual trader over than it does to win over, you know, a big business or a big bank. And so that’s where a lot of those businesses go. But like many of these innovative models, you get a development and a maturing process. And there’s a refocusing on, you know, what can this mean for established businesses. And so that’s really what we’re going to be focusing on at D3, trying to build trust, trying to build clarity, oftentimes in the regulatory space, but also around some of these business models for what’s happening with digital assets.”
He said D3 will bring together policymakers, founders, and technical experts from around the world who can provide clarity on the pertinent issues of digital assets, thereby creating the policy that will allow the industry to thrive while protecting all investors. It will also create the conditions for businesses to be sustainable, and deliver value over the long term,” said Haskins.
According to Haskins, The Bahamas is a prefect locale for this conference, not only because of its natural beauty, but also because the country has set a good example in the digital assets space with the introduction of the Digital Assets and Registered Exchanges (DARE) Act, and the development of its central bank digital currency, the Sand Dollar.
“The Bahamas is one of the few places that has a central bank, digital currency… that’s active right now.” he said.
“I know the Central Bank is working to try to encourage greater adoption of that. But again, it’s another thing that sets The Bahamas apart from many other countries and jurisdictions, they may have ideas or are working on some plans, but the Sand Dollar is actually live, you can use it today. And that’s something that definitely sets The Bahamas apart.”