Financial technology consulting firm Cartan Group LLC has launched the first Cayman Islands Blockchain Survey in an attempt to gather data on local blockchain technology initiatives.
The survey is available online at www.blockchainsurvey.ky from 12 Aug. to 12 Sept. and seeks insight into current opinions and perceptions around blockchain and the potential impact of this technology in the future, according to a news release.
“For financial services today, we are on the cusp of change, where decentralised public networks can bridge legacy financial systems with blockchain technology to help alleviate performance problems, remove friction and ease capital flow bottlenecks,” Cartan Managing Member Brandon Caruana said. “In Cayman, while we already believe that there is recognition that the technology can serve as a pragmatic solution to business problems, to keep up with the global industry we need more information on how to implement these new strategies locally, or what they require from government and regulators in order to do so.”
According to the news release, blockchain technology can also be used to service the ‘underbanked’: people who lack access to basic financial services (savings, lending, payments etc.). For example, the Bahamas recently launched its own government-backed digital currency, ‘Project Sand Dollar’, creating an electronic payment system that complies with local financial regulations, provides equal access to digital payments for all businesses and residents of the country, and reduces cash transactions and service delivery costs.
Cartan is seeking a minimum of 400 survey respondents to ensure a statistically significant sample size of the population.
“We do not ask for personal identifiable information, such as your name, phone number, or email address, but we do ask for generic demographic information to help us better understand our respondents,” Cartan Managing Member Brian Tang said. “We will then analyse the results across several high-level themes as well as specific segments of the population to help us understand the local sentiment and views of blockchain technology and its potential role in the Cayman Islands.”
The results and supporting analysis of the survey will be published on Cartan’s website in October.
For more information about Cartan and the survey, email [email protected] or call 233‑0445.