Friday, June 1, 2018

242NewsBahamas: The Blockchain Craze.. and this weeks #242 Highlights

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The BlockChain Craze...

Dear Readers,

This week we are going to write on the new BLOCK CHAIN craze...look for our comments on the budget next week.

Putting its MONEY where its MOUTH is, the Minnis Government seems intent on promoting Grand Bahama as the "tech" hub of the Caribbean.  We are very pleased to see them pushing this island in every vein possible as the second city tries to recover from the ongoing recession of the last few decades.

We agree that the island, located only 55 miles from Florida, is not necessarily suited to be the Tourism mecca of Nassau, but rather, the ideal home for offshore industry: call centres, tech offices as well as the perfect second home market.

Late last week the Minister for Grand Bahama, Senator Kwasi Thompson, announced his office's plan to host the first BLOCK CHAIN and CRYPTOCURRENCY conference.  Not only did they invite everyone in this global phenomenon to Grand Bahama, but they teased immigration reform to make working in The Bahamas easier - something many Bahamians, like GB's own out-spoken attorney QC Fred Smith has been asking for.

So, what is Blockchain? According to google dictionary: it is a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.

And, what is Cryptocurrency? According to google dictionary:a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

Yep, you may be as confused as us, but this new "currency" is the fastest growing industry in the tech world and our country is getting on the band wagon now - and not later - which always seems to be our way.

So, if you live in Grand Bahama we suggest you get learning these new words, as we understand in June you will be inundated with FINTECHs (investors, entrepreneurs, wealth management executives, and financial ... 'Tech Heads').  We hope as the good Senator noted, "this is truly a defining moment for the future of the Grand Bahama Economy," said Senator Thompson. "The government is pleased to be spearheading this initiative and paving the way for a real digital revolution which will undoubtedly impact the lives of Bahamians in a positive way."


Mr. Speaker,
This is a landmark Budget. Indeed, it is arguably the most transformative Budget in the history of our nation. It is a Budget about finally putting an end to past practices of fiscal mismanagement and, instead, adopting an approach to the management of the fiscal affairs of the nation in the manner that they should be managed, that is, in a responsible, transparent and accountable way. Read More
Prime Minister assures compassion as Shanty Towns are being dealt with

Prime Minister, Dr. the Hon. Hubert Minnis called for love between Bahamians and Haitians as the government seeks to regulate that group of undocumented illegal migrants and their Shanty Town livelihoods.
He was addressing the League of Haitian Pastors' 24th Annual Crusade/Civic Night at the Church of God Auditorium on Joe Farrington Road on Thursday, May 24, 2018. Read More
Sterling Global Execs Pay Working Courtesy Call on Works Minister, Director

Executives of Sterling Global Financial met with Minister of Works Desmond Bannister and Director of Works Melanie Roach May 8 to review draft master plans that will transform a 13-acre site on Paradise Island into a mixed-use tropical urban landscape with residential, retail, professional office space and dining overlooking a renovated world-class Hurricane Hole marina and Nassau harbour. Read More
Minister of Finance wants the words, 'accountability' and 'transparency' to have weight

"Words like accountability and transparency must be more than just political buzz words. We must back that up," said Deputy Prime Minister and Minister of Finance, the Hon. Peter Turnquest, at 'IIA Week-Bahamas Chapter' (Institute of Internal Auditors) luncheon held at Luciano's of Chicago, May 25, 2018. Read More
Industry Leaders Tapped for Bahamas Cryptocurrency Conference

The government of The Bahamas has tapped leading industry names to provide a wealth of knowledge and insight at The Bahamas Blockchain & Cryptocurrency conference. The event slated for June 20th - 22nd, 2018 will see Grand Bahama open its doors to a thousand international investors, entrepreneurs, wealth management executives, Bahamas Government officials, and business leaders converging on the nation's second city to not only network but to gain better insight into the regulatory framework that The Bahamas will be establishing for cryptocurrencies, ICOs and exchanges. Read More
EU Grey List: Welcomed but Not Out of Woods

The news that The Bahamas has been removed from the European Union's (EU) list of non-cooperative tax jurisdictions is welcomed. According to a press release issued earlier today, The Bahamas has been moved from Annex 1 (blacklist) to Annex II (grey list) by the EU. Read More
PM Meets with executives of Coral Vita Reef Restoration Initiative

The Coral Vita Reef Restoration Initiative got a major endorsement from Prime Minister, The Hon. Dr Hubert A. Minnis last week during a review of the project and its projected restoration of Grand Bahama's coral reefs. The Nation's leader met with Coral Vita executives Sam Teicher and Gator Halpern to discuss the reef revitalization efforts and Coral Vita's future plans to build an education and research centre and eco-tourism attraction on the proposed first commercial coral farm here in Grand Bahama. Read More
Modern Techniques for Treating Digestive Diseases Reduce Pain & Recovery Time

Cleveland Clinic gastroenterologists and oncologists are using new tools and techniques that require no stitches or long recovery times to treat digestive diseases.
EMR, short for Endoscopic Mucosal Resection, is one of the most successful and widely used techniques.  Read More
Bahamas Blockchain and Cryptocurrency Conference Set for June in Grand Bahama

The Bahamas Blockchain and Cryptocurrency Conference was officially announced by Minister of State for Grand Bahama in the Office of the Prime Minister, Senator the Hon. J. Kwasi Thompson during a press conference at Pelican Bay on Thursday, May 24, 2018.
The conference, scheduled to be held June 20 to 22 at the Grand Lucayan, was described by Minister Thompson as, "our coming out party" for Blockchain and FinTech. Read More
FNM risks becoming enemy of the environment
Darville blasts Oban, Clifton LNG facility and lack of renewable energy plan; warns the government against offshore drilling!
If the FNM government continues down its current path with regard to fossil fuels, it will go down in history as an enemy of the environment according to Save The Bays chairman Joseph Darville. Read More

Lucaya Service Company (LUSCO) is pleased to announce the launch of its new website, The website will provide better engagement and communication with LUSCO's customers, through real time sharing of relevant information. Specifically, the new website will provide information showcasing what LUSCO does; which areas it services; and all new initiatives relevant to LUSCO's customers. It will also allow customers to lodge complaints in real time to LUSCO's management, so that concerns can be dealt with in an efficient manner. Read More
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Games over the weekend
Despite the weather, the Chelsea team looked like the team of old who won the Championship League in 2015. We look forward to watching the tika taka style play of Chelsea in the 4th round. McKell Yallop was named the MVP of the victorious Chelsea team and if she continues to play like Saturday, Chelsea will be back in form. Mckell plays central midfielder, a position which does control the tempo of the team. Mckell has played on the national team for the past four years so she is expected to lead her Chelsea squad. Read More
Star Trackers athletes take part in Atlanta Georgia Relays

In preparation for the youth and junior nationals next month, a five-member team from the Star Trackers Track & Field Club travelled to Atlanta, Georgia, last weekend to compete in the Atlanta Georgia Relays.
One of the top female junior sprinters in the country, Anthaya Charlton, led by example, winning the 15-16 girls' 100 meters (m) and placing second in the long jump. Charlton was just off her personal best in the 100m, winning that event in 11.92 seconds. American youngster Ahmaya Jackson, representing Track Dynamite, finished second in 12.07 seconds, and fellow American Chanice Spicer, running unattached, finished third in 12.15 seconds. Read More

Barcelona Men gave the Champion League leaders Real Madrid a run for their money on Monday night at the YMCA field. Barcelona's Ashlyn Noralus scored from a flick on header from Alejandro Cabassa in the 62nd minute giving Barcelona the lead 1-0. Barcelona's defense were solid as time and time again the big guns, Judah Brown, Jay Phillippe and Elcott Jr Johnson from Real Madrid were shot down by the Barcelona wall. Read More
The Bahamas beats Antigua & Barbuda

The Bahamas continued its stellar play at the Americas  tournament currently ongoing in Escazu, Costa Rica, shutting out Antigua and Barbuda in three matches yesterday.
In the first match of the day, Philip Major took down Shakir Elvin in straight sets, 6-4 and 6-3. Baker Newman outlasted Jody Maginley in the second match, 7-5 and 7-5; and in the third match the doubles team of Major and player/captain Marvin Rolle took down the duo from Antigua and Barbuda, Carlton Bedminster and Kevin Gardner, in a match that lasted less than an hour, 6-2 and 6-0. Read More
Click Below for this week's weather in The Bahamas:
Upcoming Calendar
New Providence
  • May 30th, 2018 
    • Bahamas Chamber of Commerce Trade Seminar & Expo 9:00am - 5:00pm at The Melia 
Grand Bahama
  • May 27th - 31st, 2018

    • G.B First Annual Powerboat Race Summer Fest Weekend at Taino Beach 
  • June 1st, 2018

    • Randol Fawkes Day (Labor Day)Public Holiday 
  • June 1st, 2018

    • Bahamas Public Services Northern Region Annual Labor Day Steak Out 12:00pm - 6:00pm at  BPSU Hall, West Atlantic Drive, Freeport
  • June 4th, 2018

    • Freeport Players Guild Monthly Meeting 7:00pm at Regency Theatre
  • June 6th, 2018

    • Caves and Blue holes on GB Talk 6:30pm at Rand Nature Centre
  • June 7th, 2018

    • 7th June to 19th August 2018: DENALIS RIGBY's Tennis Camp 8:00am - 1:00pm
Family Islands
  • May 31st, 2018

    • Barreterre Homecoming Festival & Regatta" in Exuma
  • June 1st, 2018

    • South Andros Regatta in Andros
  • June 1st, 2018

    • South Andros Homecoming Festival & Regatta in Andros, Kemps Bay
  • June 1st, 2018

    • 30th Annual Pineapple Festival in Gregory Town, Eleuthera 
  • June 2nd, 2018

    • Sandy Point's Homecoming at Sandy Point's 
For More Abaco Events click the photo below
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