Prospects For Blockchain-Based Settlement Frameworks As A Resolution To The Threat Of De-Risking To Caribbean Financial Systems
Caribbean countries have been seriously impacted by the trend toward “de-risking” in the global financial system, and this is damaging to their economic security and the ability of Caribbean businesses to innovate. De-risking is the name given to the tendency of banking institutions to turn away from working relationships and lines of business for which the cost of regulatory compliance— and the risk of non-compliance— is deemed to be too high in comparison to the returns. This is a phenomenon that is affecting developing economies around the world, but the small and vulnerable economies of the Caribbean have been hardest hit.