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Business development advisory board created in Puerto Rico

By on May 24, 2018

SAN JUAN – Puerto Rico Economic Development (DDEC by its Spanish initials) Secretary Manuel Laboy announced Thursday that he signed an administrative order that creates the Advisory Council for Business Development in Puerto Rico based on blockchain, the distributed digital ledger.

“The work of this council is to provide me advice on the priorities, strategies and initiatives, in the short and long terms, which can be implemented as a tool for economic development and recovery for Puerto Rico,” Laboy, who is also the executive director of the Puerto Rico Industrial Development Co., said in a statement.

The panel will provide its recommendations so that the policies and regulations developed by the government to incorporate the technology are productive and consistent with global trends and best practices.

The board will comprise six ex officio members of the public sector, including Laboy, as its chairman; Treasury Secretary Raúl Maldonado; the executive director of the Puerto Rico Fiscal Agency and Financial Advisory Authority, Gerardo Portela; Financial Institutions Commissioner George Joyner; the government’s chief information officer, Luis Arocho González; and the government’s chief innovation officer, Glorimar Ripoll Balet. An additional five members will be appointed by Laboy from the private sector and may include investors, entrepreneurs and blockchain experts.

–Cybernews contributed to this report.

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