How Bitcoin Will Help Jamaica Abolish Bank Slavery Like El Salvador Did | Dread

Live from Bitcoin Beach in El Zonte, El Salvador, we turn our focus to the Caribbean, specifically Jamaica with our guest affectionately known as Dread. He shares his knowledge about how to leverage Bitcoin to handle economic disparities and the banking restrictions of his country.

In Jamaica, a great number of the population is living in poverty and the wealthy minority remains detached from the struggles of the bigger population. With the limitations of the Jamaican banking system where they can’t use their cards internationally or in e-commerce, Bitcoin is the best alternative - and a necessity for financial inclusions.

Dread started his Bitcoin journey with skepticism before becoming immersed in the Bitcoin community. He then recognized that more than just the potential of making money, as a decentralized currency, it can empower people and societies, especially in countries like Jamaica where there is a lack of banking system infrastructure. He became a forefront promoter of Bitcoin in Jamaica.

Knowing the financial challenges in the Caribbean, his project, a Bitcoin wallet called Flash aims to help facilitate easy access to Bitcoin for the economic activities in the area. He shares the technical background of Flash Wallet and how these features can improve financial transactions in the Caribbean and enable a circular economic flow.

Dread points out there is a need to build trust with the community leaders who will facilitate Bitcoin adoption because people are hesitant to accept how others handle a technology that they have yet to understand.
Bitcoin is proving to be a powerful tool in improving economies through decentralized finance and Dread knows it’s his mission to increase people’s knowledge about Bitcoin.

Listen to the full episode to learn how Dread takes on this challenge, from sharing his technical know-how, his project the Flash wallet, and his hopes for better financial inclusion for the people of Jamaica.

Follow the episode through these timestamps:
00:00:00 - What is the Two-Tiered Society and How Does it Affect Jamaica's Economy?
00:01:29 - How Did a Friendship Begin in the Bitcoin World?
00:05:34 - What is Dred's Bitcoin Journey from Skepticism to Belief in Freedom?
00:08:50 - What are the Challenges of Jamaica's Banking System?
00:11:32 - Why is There Economic Disparity in Jamaica Compared to El Salvador?
00:12:48 - Why Does Jamaica Need Bitcoin for Global E-Commerce?
00:14:42 - How Can Jamaica Create a Circular Bitcoin Economy?
00:15:57 - Why are Community Leaders Crucial for Bitcoin Adoption in Jamaica?
00:17:42 - What Efforts are Being Made to Build a Bitcoin Community in Jamaica?
00:18:41 - What are the Challenges of Implementing Bitcoin in Jamaican Businesses?
00:19:14 - What Specific Tools Does Jamaica Need for Bitcoin Adoption?
00:19:35 - Why is Building a Wallet Specifically for Jamaica and the Caribbean Important?
00:20:06 - What is a Hybrid Custody Lightning Wallet and How Can it Help Jamaica?
00:21:23 - How Can Off-Ramp Services and Stablecoins Build a Bitcoin Economy in Jamaica?
00:31:27 - Why is There Distrust in the Jamaican Banking System?
00:34:29 - What are the Technology Adoption Challenges in Jamaica?
00:36:14 - How Can Flash Wallet Address Jamaica's Cash-Only Economy and Banking Distrust?
00:39:03 - What Makes a Lightning Wallet Unique for Jamaica?
00:39:58 - How Can Flash Wallet Serve as an Off-Ramp for Remittances in Jamaica?
00:40:50 - Why are On and Off-Ramps Essential for a Circular Bitcoin Economy in Jamaica?
00:48:14 - Why Must Bitcoin be Ten Times Better than Cash to Succeed in Jamaica?
00:50:53 - How Can Innovative Payment Functions Like Split Payments Transform Bitcoin Use?
00:55:27 - How Does Open Source Development Connect Payment Systems to Bitcoin?
00:57:59 - What is the Bootstrap Phase and What are the Plans for the Beta Release?
00:58:22 - How are Investment Plans and Market Sentiment Affecting Bitcoin Startups?
01:00:05 - What is the Mission Statement and How to Contact for More Information?
01:02:12 - Why Consider Excluding US Customers and What are the Expansion Plans in the Caribbean?
01:03:36 - Reflecting on the Journey, What are the Future Plans for Bitcoin Product Launch?
01:04:21 - How Does Positive Energy Influence the Future Outlook in the Bitcoin Community?

Contact Dread
dread@islandbitcoin.com
https://github.com/LNFlash

Follow Dread on Nostr:
npub1qqqqqq0u2gj96tdfvqymdqn739k4s0h9rzdwyegfmalv28j7a5ssh5ntu2

Learn more about Flash Wallet here:
https://github.com/LNFlash
http://onelovebitcoin.com/
https://onelovebitcoin.simplecast.com/

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