Puerto Rico may soon experience a crypto expat Boom: Blockchain enthusiast take the lead to recovery

Blockchain enthusiast are heading to the Caribbean island of Puerto Rico in hopes of turning around the island ailing economy after the devastation of Hurricane Maria. Many of these enthusiast finds Puerto Rico quite attractive compared to extortion of personal income taxes, capital gains tax and business tax they currently face within the United States. They plan to use much of their acquired crypto wealth to build a crypto utopia, where contracts are available to the public and the currency is virtual, giving a glimpse of what the future could be with Blockchain technology. Much of their plans seem to be in the advance stages as they await the local government green light to have the first cryptocurrency bank approved.

Source: topuertorico.org

The group has some impressive names within the Blockchain community, folks with major success and capable of making something special of Puerto Rico, something that the government has been trying years to do. They include the likes of Halsey Minor, Founder of the news site CNET. Matt Clemenson, co-founder of Lottery.com. Brock Pierce, leader of the Puertopia movement and director of the Bitcoin Foundation and also co-founded the Blockchain-for-business start, Block.One, the group spearheading the EOS project. Bryan Larkin, Chief technology officer of Blockchain Industries. Reeve Collins, startups include BlockV and co-founded Tether.

Mr. Pierce center
Source: The New York Times

The group believe they can positively impact the island of Puerto Rico that has been neglected by the United States for many years. They also see it as one of the best ways they can invest much of their crypto wealth and positively impact a island ravage by one of the worse disasters in its history.

You can read details of their project with the link to the article from the New York Times article
https://www.nytimes.com/2018/02/02/technology/cryptocurrency-puerto-rico.html

I am really excited to see the direction the Caribbean is heading, slowly but surely all the islands are embracing Bitcoin and Blockchain technology. Some are striving to be the hub of Initial Coin Offering (ICO) and Blockchain technology, others have incorporated Bitcoin as a form of payment to Citizenship. Providing that you have some Bitcoins laying around and looking at getting a second passport, the process can take as little as 6 weeks with several CARICOM islands each with attractive packages. Probably one day we can all sip some Pina colada on the beach soaking in some sunshine while having a look at CoinMarketCap.