British Virgin Islanders may receive Bitcoin from state during emergencies

posted 4 months ago
The British Virgin Islands partnered with Bitcoin wallet maker LifeLabs to facilitate emergency funding for the British Virgin Islands, as well as payments between islands. Andrew A. Fahie, Premier and Minister of Finance for the BVI said “It is of utmost importance that our citizens receive immediate and proportional response in the midst of emergencies… we enter into this unprecedented partnership, together, building a better BVI for the future.”

When disaster happens, and traditional means are disrupted, British Virgin Islanders will be able to use mobile LIFEWallet to receive government assistance “...allow island residents... accessing an account that can have funds deposited into it whenever a disaster strikes… blockchain technology is a major advancement over traditional banking, where ‘bricks and mortar’ locations can be damaged or destroyed, and thereby preventing access to much needed funds during an emergency or humanitarian crisis.” Notably, this announcement is unique in terms of government adoption of Bitcoin.
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