Blockchain payments startup company Bitt in Barbados has announced the appointment of Rawdon Adams as its new chief executive officer as of late September 2017. The hiring is viewed as part of the firm’s strategy to add weight to its plans in the region.
In a statement, Bitt supporter Overstock’s Medici Ventures President Jonathan Johnson said that Adams is the right leader to advance the company to the next level.
“Rawdon is the perfect leader to grow and scale Bitt to the next level and bring to fruition Bitt’s initial vision in the Caribbean.”
Brief profile of Adams
Rawdon is the son of Tom Adams, the prime minister of Barbados who served between 1976 and 1985. Tom, meanwhile, was a son of Sir Grantley Herbert Adams, who served as the first and only prime minister of the former West Indies Federation.
Based on his LinkedIn profile, Rawdon was a former analyst at GE Medical Systems and the founder of the market arbitrage software startup company ArbMaker.
Blockchain in Caribbean region
Bitt was established to advance a settlement network built with Blockchain technology across the pan-Caribbean region. Under its plan, the company will establish a solution to better connect more than a dozen governments in the region, each with their own currency systems.
Earlier, the digital currency exchange startup has collaborated with the Central Bank of Barbados for the advancement of pilot Blockchain projects.
Among the Bitt investors, there are online retailer Overstock.com, which invested $4 mln in the company through Medici Ventures in April 2016; or local venture capital company Avatar Capital, which provided a seed funding of $1.5 mln in March 2017. The money will be utilized to expand Bitt’s team beyond Barbados.