Blockchain milestone: CariNet will introduce national nodes
The Caribbean Digital Finance and Free Trade System, CariNet, has been officially launched, applying blockchain technology to help the member countries of the Caribbean Free Trade Agreement (FTA) build digital payments and digital financial infrastructures in order to create a platform for international trade. To meet the security demands of digital payments and financial systems, the CariNet Main Net plans to introduce national nodes to supervise the whole blockchain network in order for it to develop in a credible and orderly direction. The operation of the CariNet Main Net is supported from the nodes. The 15 Caribbean FTA member countries will establish a data node respectively. The establishment of CariNet is expected to bring new developments to the declining financial industry in the Caribbean by transforming the traditional tax-avoidance offshore finance, into blockchain digital finance.