BVI Forms Partnership with LIFElabs for Emergency Cryptocurrency
The BVI has formed a partnership with LIFElabs.io for the purposes of providing rapid cash response in emergency situations and creating an alternative digital currency payment method to facilitate financial transactions across the territory.
Premier Andrew Fahie remarked that: “It is of utmost importance that our citizens receive an immediate and proportional response in the midst of emergencies. LIFElabs’ innovative financial technology comes at a pivotal time for our people and our economy, while the memory of recent natural disasters remains fresh in our minds and hearts, and the pressure for increased economic efficiency keeps mounting. It is with high expectations that we enter into this unprecedented partnership, together, building a better BVI for the future.”
The LIFElabs.io implementation for the BVI will allow residents to download the LIFEwallet® app on either Apple iOS or Google Android mobile devices, accessing an account that can have funds deposited into it whenever a disaster strikes.