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Friday, 24 May 2019

Local Bitcoin

Local Bitcoin

Local Bitcoin
Local Bitcoin

J amaicans will, in a couple weeks, be able to buy cryptocurrencies by the Jamaica Stock Exchange through their brokers in the trial of the Blockstation platform. We expect to have clients on board explained Managing Director at Barita Investments Ian McNaughton, who's also the chairman of the JSE. Friday, the JSE and Canadian company Blockstation signed an agreement paving those way for those exchange to become that of the few in the world. The platform was allegedly tested in January of the year. In this second stage, we're onboarding their customers that were local and our agents, said Blockstation co creator Jai Waterman, who the chief technology officer.

This is the goal. We're going to make sure everything runs smooth, although we'll add procedures for the compliance sections, he said. There. Jamaicans have found it hard since they have an inclination to reject credit cards to access those programs. The Blockstation stage will eliminate that blockade throughout the JSE. Bitcoin, which is the most famous cryptocurrency, hit those headlines within December 2017 when it surpassed US$17, 000 for one bitcoin. Five brokerages are now involved with the trial, including Barita, which suggests that it'll start signing up clients shortly. Another, Sagicor Investments Jamaica, also says it'll also be inviting select clients to trade.

Aside from the selling and buying of coins, the Blockstation stage will enable regional companies to list their assets in what's called a security token offering, that is a digital version of an initial public offering. McNaughton explained those details are still being worked out, but it'd result in a tradeable stock with integrated regulations. Thats because it's built on blockchain ledger technology, which creates a chain of all previous selling and buying activity for public viewing, he explained sort of like an e-mail message chain. You'd have a very good handle of all of those transactions along with know if any would violate any anti money laundering laws, along with those system would flag any negotiation attempted from those on terrorist watch lists, explained McNaughton. It's a sound platform, he said. Just this week, JSE announced that it'd upgrade its trading stage later the year to one provided by Nasdaq.