SM@RT, a US Blockchain-based Sustainable Economic Development Company, has announced the prelaunch of SM@RT BARBADOS which will seek to finance, via a Security Token Offering (STO), the execution of major development projects in Barbados across 20 different sectors, implementing the advanced technologies of the participating consortium companies. The STO will be in several stages, and will allow international “accredited investors” to purchase “Revenue Share Token” securities tied to specific sectoral development projects.
This new strategic initiative has two purposes. It will introduce into Barbados the first, fully eco-designed and sustainable properties, for development and investment. It is also formulated to accelerate the economic recovery of the island-nation, after a decade of economic decline and international financial rating downgrades. Facing increased competition, limited foreign exchange reserves and a national debt burden in excess of GDP, the road to recovery for Barbados’ economy appeared to be a long and painful one for its citizens. SM@RT says they intend to change that.
The initiative brings together a global consortium of technology solution companies from diverse economic sectors, including Renewable Energy, Transportation and Aquaculture. These companies are committed to leveraging their new and innovative tech solutions, to drive faster economic growth in Barbados, by attracting a minimum of US$1 Billion in foreign direct investment for development projects over ten years.
As explained by Robin Belle, a social enterprise/technology entrepreneur, Blockchain advocate and architect of the initiative:
“It takes a highly strategic and creative approach, to dramatically transform a country’s economic performance and international standing in the short to medium term. It requires major buy-in and coordinated action by multiple stakeholder groups locally and internationally.” Belle, a citizen of Barbados, is Founder and CEO of SM@RT, the US company behind the initiative.
In its thrust to Revitalize Economic Activity on the island, SM@RT will lead a Utility Voucher OfferingTM (UVO™), which is a Barbados Crowdfunding/Marketing Campaign with the promotional theme #BuildBarbadosBack. It involves the global sale of Digital Gift Vouchers to Barbadians and visitors to Barbados, who love Barbados and want to play their part in supporting the island’s economic transformation.
Visit the official initiative website at https://www.smartbarbados.com
Originally published at Blockchain News.