Mauritian-Born Appointed Global Ambassador for BSV Blockchain Foundation

Viash Sreemuntoo, a Mauritian native now residing in Canada, has been appointed as a Global Ambassador for the BSV Blockchain Foundation. This foundation is dedicated to promoting a new technology that has garnered significant interest in recent years. In a landscape where various cryptocurrencies are emerging, the BSV Blockchain Foundation focuses on real-world applications of blockchain technology rather than merely the creation of new digital currencies.

The foundation operates as a network built on fundamental technology and the concept of Bitcoin, as originally outlined in the pioneering white paper.

One of the key challenges facing Bitcoin is its limited capacity to facilitate business development, an issue that Sreemuntoo aims to address through his new role.

Regarding his selection as an ambassador, Sreemuntoo highlighted his extensive experience in the blockchain and cryptocurrency sector, which dates back to 2015.

His involvement with the foundation has granted him insights into its objectives, and he proposed the idea of expanding the use of blockchain technology on a global scale.

In his capacity as a Global Ambassador, Sreemuntoo will serve in a voluntary role while managing his own business simultaneously.

He is representing Canada but also leveraging his Mauritian heritage to build connections with Africa.

His network of contacts across various groups and organizations will be instrumental in promoting the foundation’s goals.

One initiative he envisioned is forming partnerships with universities to develop programs and degrees centered on blockchain technology.

The foundation is aiming to support organizations in promoting blockchain applications and can also collaborate with the Financial Services Commission, government ministries, or central banks to further its initiatives.

Turning to Mauritius, Sreemuntoo expressed concerns about the nation’s slow progress in embracing blockchain technology amidst forthcoming financial service offerings.

He pointed out that, while the Mauritius Financial Centre is introducing new products under the VAITOS Act, the country is lagging behind global hubs like Singapore, Dubai, and London.

He emphasized that Mauritius is not adequately prepared for the rapid adoption of blockchain technology and its regulatory requirements, labeling the VAITOS Act as superficial and lacking depth.

Sreemuntoo remarked that Mauritius has stagnated since the offshore industry was established in 1992 and questioned how the country could attract new players in the sector without a supportive infrastructure in place.

However, he expressed unwavering confidence in the BSV Blockchain Foundation’s ability to elevate Mauritius’s standing in the blockchain landscape.

He proposed that increasing educational endeavors at universities could serve to enlighten future generations about blockchain technology.

He also noted that the Financial Services Commission is lacking an adequate system for conducting investor due diligence and compliance checks for foreign investors considering Mauritius as a business base.

The BSV Blockchain Foundation can provide valuable expertise in compliance and regulatory matters, and Sreemuntoo stated there is a need to reassess the VAITOS Act to fill its existing gaps and make it more functional for today’s standards.

Source: Defi Media