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Antigua-Barbuda supports initial coin offering for development

ST JOHN’S, Antigua — Antigua and Barbuda’s projects and charities are being funded by the initial coin offering for development (ICOD) – a groundbreaking ICO for Development with full support from the minister of agriculture, lands, fisheries, and Barbuda affairs, Arthur Nibbs.

The ICOD is based on the Ethereum blockchain, allowing the Antigua Development Coin (ADC) to be used by Antiguans and other interested people in their daily lives via the Antigua eWallet.

With the first development coin release, CNET will be receiving funds to develop a multifaceted HACCAP compliant agricultural complex, a state-of-the-art hydroponics plant, a large solar power plant with battery storage backup, an orphanage and halfway house for battered women, and a micro-finance institution.

CNET will later fund development projects on Barbuda such as a solar farm and an open market; all of this will help create employment for Antiguans and Barbudans.

“We envisage our developments to be environmentally and economically sustainable as we strive to empower the local communities, while helping to make Antigua and Barbuda the ‘Economic Powerhouse’ it is envisioned to be,” says Errol Bailey, president of CNET’s group of companies.

CNET International is a privately run consortium of strategic partners in community development and renewable energy sector. CNET’s mission is to increase economic growth for Antigua and Barbuda through public-private partnership agreements.

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