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Puerto Rico blockchain advisory board holds first meeting

By on July 13, 2018

SAN JUAN – The newly formed Advisory Council for the Development of Businesses based on blockchain technology held its first meeting, to outline the government plan that will allow implementing strategies to contribute to the economic development of Puerto Rico, Puerto Rico Economic Development Secretary Manuel Laboy announced Friday.

“We began by reaffirming the purpose of the Advisory Council, which is to effectively lead the processes that will be carried out so blockchain technology joins the diversified economic transformation that our Government is promoting and contributes to the treasury, as well as the creation of jobs,” Laboy, who also chairs the board, said in a statement.

The official explained that a first work plan that will begin with creating the procedures to present proposals for initiatives and projects, and how they will be evaluated, was established.

“We set short- and long-term priorities. How to provide recommendations so the policies and regulations developed by the Government are on par with international trends, are competitive, produce for Puerto Rico and contribute to the growth of this revolutionary technology in the Caribbean and the Americas, as is already happening in other parts of the world. As is the programmatic commitment of Governor Ricardo Rosselló Nevares, to implement technology and innovation projects that contribute to our economic development. We want to insert Puerto Rico into this innovative system and promote the investment of this sector in a responsible manner. Because blockchain technology represents multiple growth opportunities for many sectors,” the secretary added.

In addition to Laboy, the council is composed of five other members of the public sector: Treasury Secretary Raúl Maldonado; the executive director of the Puerto Rico Fiscal Agency and Financial Advisory Authority, Gerardo Portela; Financial Institutions Commissioner George Joyner; Government Information Officer Luis Arocho González; and Chief Innovation Officer Glorimar Ripoll Balet. It also includes five members of the private sector.

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