The Tribune

A Bahamian is one of the main "architects" behind a digital network that has attracted Caribbean backing in its bid to open commerce throughout Africa.

The African Digital Asset Framework (ADAF), built by a team from Africa, North America and the Caribbean, aims to create pan-African standards for technologies that will allow people to trade digital assets throughout the entire African continent and its diaspora.

Marvin Coleby, the ADAF's founder and co-trustee, is originally from The Bahamas. Its platform provides an open repository of standards designed to encourage the creation of digital economies by consumers, civil society, entrepreneurs and policymakers.

The ADAF has attracted support from the Caribbean Blockchain Alliance (CBA), an organisation formed to promote the adoption of blockchain technology in the region through software developer education and working with regulators to build out supervisory frameworks.

Stefen Deleveaux, CBA's founder, said: "ADAF is the perfect mechanism for which peoples of African descent around the world can adopt blockchain and DLT in a way that is co-operative and non-exclusionary.

"The launch of this framework could result in a 'Cambrian explosion' for regional trade networks and digital asset adoption. I sense that ADAF will be a beacon for other emerging regions to properly and purposefully embrace these technologies."

Mr Deleveaux added: "Being also from The Bahamas, it is wonderful to see a Bahamian as one of the architects behind this framework, as many island nations in the Caribbean are proving themselves to be strong players in the blockchain world. It also reminds us that strengthening our economic ties to Africa is a worthy and important goal."