CTO explores use of digital currency

(GIS) – The Caribbean Tourism Organization (CTO), the region’s tourism development agency, has entered into an agreement with Blockchain Technology Company, Bitt Inc., aimed at facilitating the implementation of more efficient payment processes for tourism-related products and services.

The two organizations signed a Memorandum of Understanding under which Bitt’s digital wallet and merchant applications will be promoted to help foster broader economic participation in community-based tourism and related sectors.

Hugh Riley, the CTO’s Secretary General, said “The Caribbean aims to fully examine the advantages offered by new financial technology. In particular, Blockchain Financial Services have the potential to advance the objectives of specific programmes and activities…

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