Rawdon Adams Returns to the Barbados Space to Spearhead Bitt Inc

The BU household has been following the rise of blockchain technology with great interest. Obviously it is technology at a nascent stage and it is the venture capitalists and early adopters who have the  task of ‘selling’ a new payment mechanism to the population.

The BU household will continue to monitor the progress of the technology and wish Rawdon Adams every success who is the newly appointed CEO of Bitt.com. We have a lot of respect for Rawdon, the BU family should recall he has contributed to the BU forum in the past. He joins Marla Dukharan at Bitt.com where another person we have a lot of respect was recently added to the team to lead the charge.

The Barbados directorate should take note that the OECS sub-region has signed up with Bitt.com to pilot the technology.

The following article extracted from Coindesk.com.

 

Barbados Underground

Bitt, the blockchain payments startup backed by Overstock’s Medici Ventures, has announced the hiring of a new chief executive officer.

The new CEO, Rawdon Adams, takes the helm of the Barbados-based startup just months after it unveiled an ambitious plan to develop a pan-Caribbean settlement network built with blockchain tech. The plan, Bitt said in May, is to create a way to better connect a region with more than a dozen governments, each with their own currency systems.

The startup has also worked with the Central Bank of Barbados on pilot blockchain initiatives.

The appointment of Adams adds heft to the startup’s regional plans. Rawdon is the son of Tom Adams, who served as the country’s prime minister between 1976 and 1985. Tom Adams, in turn, was the son of Sir Grantley Herbert Adams, the first and only prime minister of the former West Indies Federation.

According to LinkedIn, Rawdon previously worked as an analyst for GE Medical Systems and founded market arbitrage software startup ArbMaker in 2008.

Jonathan Johnson, president of Medici Ventures, said in a statement:

“Rawdon is the perfect leader to grow and scale Bitt to the next level and bring to fruition Bitt’s initial vision in the Caribbean.”

Overstock, through Medici, invested $4 million in Bitt in April of last year.

Editor’s Note: This report has been updated for clarity.

 

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at news@coindesk.com

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201 comments

  • Are we going to discuss this nonsense by this joker, with an MA in political sociology?

    The Mia Mottley administration is being urged to reform old legislation while guarding against implementing new ones that could place too much burden on this country’s financial services industry, a Government Senator who leads the financial technology industry has warned.
    Speaking on proposed amendments to Securities (Amendment and Validation of Fees) Bill, 2019, Senator Rawdon Adams said that while the amendments are a step in the right direction toward unencumbering the financial services industry, Government must maintain the balance between regulating and enabling capital.
    Senator Adams, chief executive of fintech firm Bitt, said: “We have to be very careful when we look at this type of legislation that we don’t encumber actors in the financial space with a burden of regulation that is really onerous.
    “Legislation to my mind is a living entity and it something that has to reflect changes and development in society, be they economic, technological, social or political. It speaks to balancing proscription against enabling.
    “With this type of legislation, we have to make sure that we don’t hamstring society.”
    The bill seeks to amend the Securities Act to exempt an issuer of a security, in specified circumstances, from the obligations imposed by sections 63 to 65; and validate the charging and collection by the Financial Services Commission, of certain annual registration fees payable by the Barbados Stock Exchange from January 1, 2016 to the date of commencement of the Securities (Amendment) Regulations, 2018.
    According to section 63 of the Act: “Subject to section 64, no person shall distribute a security unless a prospectus or a block distribution circular has been filed with, and a receipt therefore has been issued by, the Commission.”
    In section 65 it states: “No registrant shall sell a security of a class that is the subject of a filing pursuant to section 63 and for which a receipt has been issued by the Commission, within 90 days of the date of the receipt, unless he sends or delivers to the purchaser of the security a prospectus or block distribution circular within two working days before the agreement of sale is made,”
    Noting that past administrations have frequently erred on the side of proscription, Senator Adams said it is therefore crucial for the one-year-old Barbados Labour Party Government to strike a delicate balance to ensure the fluidity of the industry.
    He told the Senate: “This type of legislation does not only have to take into account balance but also proportionality.
    “When it comes to small and medium-sizes enterprises governed by the legislation, we know that they cannot easily finance themselves through credit or equity.
    “So, it is really important that legislation like this and the related Acts on our books address this kind of issue.”(Quote)

    Like

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