Puerto Rico’s Department of Economic Development and Trade (DDEC) recently launched a Blockchain Advisory Council, reportedly to “attract and develop companies based on blockchain technology,” according to local news outlet El Nuevo Dia.
The move was announced by the island’s secretary of economic development and commerce, Manuel Laboy Rivera, during the Blockchain Unbound conference in San Juan. The advisory council will comprise of members of both the private and public sector, including Rivera.
It will also include the government’s chief innovation officer (CIO) Luis Arocho, its commissioner of Financial Institutions George Joyner, and a number of blockchain industry entrepreneurs who recently moved to Puerto Rico. El Nuevo Dia, citing sources close to the agency, reports the advisory will unofficially serve as a “filter” to distinguish legitimate blockchain projects that help solve the island’s problems, from projects that don’t hold any value.