Rest assured, Puerto Rico! Blockchain, marijuana, and filmmakers are here

12 Sep, 2018
by Paula D. Baciu
Rest assured, Puerto Rico! Blockchain, marijuana, and filmmakers are here

“Together as one, we can do great things, and everybody can win.” Brock Pierce’s words at the Investment Summit held in Puerto Rico February 2018 still echo a few months later. The Puerto Rican Governor, Ricardo Rosselló, translated them into a blockchain advisory council, according to Bloomberg.

Mr. Rosselló’s initiatives are probably some of the uncommon in history. He believes that the economy of his country can be rebuilt by introducing some new industries: blockchain, cannabis, and cinematography.

Puerto Rico’s economy fell likely due to a clash of a lazy economic growth and the exodus of pharmaceutical companies (and the industry altogether) before 2006. Mr. Rosselló’s initiative aims to replace the pharmaceutical industry with something new. Among his ambitions to build famous film studios and (medical) marijuana growing facilities, the Governor also counts blockchain as a third worthwhile enterprise.

Brock Pierce, also a current resident of Puerto Rico, vowed his allegiance to the field of cryptocurrencies a long while ago and supports this initiative. He went further, to claim that he would be particularly interested in creating an entire community of crypto investors there (interested?).

However, their projects don’t see friends everywhere. Many Puerto Ricans fear that this might be just another attempt to exploit their economic vulnerability following the hurricane. Although no decision was taken yet, the Governor seemed quite confident in the changes yet to come regarding the above mentioned.

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