Caribbean Eco Token
Stichting Marlin Yard introduces the Caribbean Eco Token – CARET, a community driven cryptocurrency – focused on executing United Nations Sustainable Development Goals (SDG’s) for sustaining a vast Economic Growth in the Caribbean.
Caribbean countries endured crisis upon crises because they are extremely vulnerable to climate change and natural disasters. Tourism being the number 1 income in the Caribbean showed growth until nature wreaked havoc. Volcanos started erupting on Montserrat and St. Vincent. The category 5 hurricane Irma caused widespread destruction across its path in September 2017 followed by hurricanes Jose and Maria two weeks later. Most recent and terrible impact is the COVID-19 pandemic which halted Tourism. Many jobs are affected, and the poverty headcounts are rising, though the magnitude and duration of this increase will depend on the pace of economic recovery.
When disasters occur, local Governments are responsible to put a financial aid apparatus in place to rebuild their countries. Unfortunately, many local Governments are in dire financial restraint caused by the aftermath of earlier mentioned nature’s havoc. Especially now, dealing with the current pandemic caused local Governments to seek financial aid from colonizing countries and or other funding organizations. This means lots of time is consumed between political decision-makers to reach agreement to receive financial support. In the process island populations are in dispair whether there will be enough funds to fix their local economies and how much time this process will take before the next natural disaster could happen. The latter is a BIG issue for Caribbean countries in the Hurricane Belt.
It is time
It is time! Time to empower Caribbean locals to create their own financial safety net to execute the recovery of their countries at a faster pace. This can be done without having to wait on Governmental Recovery, Reconstruction and Resilience Funding plans. It is a fact that Governmental support comes with policies and procedures managed by tripartite partnerships and agencies who decide to whom and where to disburse funding. Unfortunately this way of financial aid does not guarantee getting funds to fix hurricane damaged homes, or to reduce dependence on food imports, or to fix the supply of fresh food by building a sustainable and resilient agricultural economy besides Tourism, to name a few problems.
Depending on Tourism as a main income source and the import of products and goods to date has proved to be an insecurity. It is not too late for Caribbean communities to become more self-sufficient, more resilient and to create faster alternative funding opportunities. This can be done with blockchain technology while applying SDGs (Sustainable Development Goals) which global communities supports.
Therefore, Caribbean Eco Token – CARET – is created. CARET is for communities to use as an alternative funding and payment method besides the already known funding institutions that offers fiat currencies.
CARET – Cryptocurrency
CARET aims to function as an alternative Electronic Money option that supports sustainable development projects within the Caribbean and to be used as a payment solution. To ensure continuation of these urgent developments, we have created the Caribbean Eco Token – CARET. This digital token is based on Ethereum (ETH), a cryptocurrency with the second largest market cap (second to Bitcoin).
Using CARET as an alternative payment method, provides a safe, secure and compliant path for cross-border transactions, peer-to-peer (P2P), customer-to-business (C2B) and business-to-business (B2B). Through the application of Blockchain technology, we will be able to execute Smart Contracts to settle and record transactions securely.
Our business model is based on:
- Matching SDG’s with development projects in the Caribbean and executing them. Then linking CARET to each development project, which in turn creates the opportunity for CARET users to become supporters (investors) of these projects.
- Using CARET as a payment solution within the Caribbean community.
- Each CARET user becomes eligible to share in any profits generated by the projects.
- Users are offered to enjoy incentives when visiting these projects with regards to a project derived product, goods and or services.
- Monetising Smart Contracts to execute contractual obligations.
- Implementing an active market dampening strategy using our environmentally friendly cryptocurrency mining facility.
Our goal is for CARETs to be available through a secure platform to execute local and cross-border financial transactions without involving third parties. As one of the first institutions to embark on this journey we seek support of this inititative in all respect. We see this as an opportunity rather than a hurdle to contribute and, in doing so, position cryptocurrency as a seamless payment solution.
More about CARET can be read in our Whitepaper, soon to be published here.