The sold-out event attracted a diverse group of around 800 people — representatives of blockchain start-ups, cryptocurrency investors, hedge-fund managers, bankers and accountants from all across the U.S.
Patrick Moynihan, the CEO of Blockchain Industries, said blockchain is not merely a technology, it is a movement led by individuals who not only want to boost their bottom lines but also make a difference.
“This is really about awareness,” Moynihan said in an interview with CNBC. “There’s a social movement here. People want to help, and this is a way to really give back to their fellow citizens across the globe, quite frankly, and equalize the playing field,” he said.
All proceeds of the Blockchain Unbound conference are being donated to the island’s hurricane recovery effort.
Puerto Rico has been attracting companies and individuals to the island mainly through two sets of tax exemptions. One gives Businesses an incentive to relocate to the island and use Puerto Rico as a place to export services to anywhere in the world, including the U.S. mainland. The other encourages individuals to move to Puerto Rico by eliminating taxes on long-term capital gains if they invest Locally.
Since the tax exemptions were enacted, more than 800 Businesses and about 1,400 individuals have relocated to Puerto Rico.
Jeff Thompson, 53, a conference attendee, is the president and CEO of Red Cat, a drone storage and analytics software Business that uses blockchain technology. He moved his Business to the island in September 2016.
“This is one of the best places to put a start-up company,” Thompson said. “The tax incentives are incredible for a start-up. The talent down here is incredible.”
Thompson estimates that about 30 blockchain companies have moved to the island recently.
“Some of the most prominent names in blockchain are here,” he said. “It’s a really exciting time here in Puerto Rico.”
source : CNBC