Catawba Digital Economic ZoneRegenerative Systems Advisor
Apr. 2022 - Mar. 2024Rock Hill, South Carolina, United StatesSet to Change the Digital Asset Management and Fintech Industries. Rock Hill, South Carolina – The Catawba’s General Council voted to pass legislation to allow the establishment of a new digital special economic zone, the Green Earth Zone (GEZ), which is poised to become one of the most important jurisdictions for digital asset management, fintech and cryptocurrencies in the world. Fintech has become a booming industry, with over US$91.5 billion in global funding by the end of 2021. Driven by new technologies such as smart contracts, encryption, and digital signatures, regulators around the world have been challenged by the trends in cryptocurrency and decentralization. The uncertainty with regulations and complexity of the technologies involved in blockchain exposes investors and individuals that have sought to capitalize on the rising value of Bitcoin or the surge of interest in non-fungible tokens. The GEZ can be prosperous thanks to the ability of Native-American Tribes under US law to have their own commercial code, regulation-making, and administrative capacities. The GEZ project began just three years ago under Catawba Corporations, the economic development arm of the Nation, and with the completion of the Zone’s own commercial and financial regulatory code, represents the most advanced jurisdiction for digital services. “Special Economic Zones have been powerful instruments for economic development, enabling rapid economic growth. SEZs often rely on tax incentives. But with our status as a sovereign jurisdiction, we are also able to create a best-in-class regulatory climate for the digital, fintech, and blockchain sectors. Our plan is to allow these businesses to operate with certainty, and under regulations that protect consumers that help mature the industry. The GEZ will create tremendous economic opportunities for our people of the Catawba Nation”, explained Ronnie Beck, CEO of Catawba Corporations.