Logo of the newly created special jurisdiction.

The Green Earth Zone is named after a Catawba site zoned for economic development.

The Longhouse, the Catawba Government headquarters where the vote took place last February 19th.

The Green Earth Zone is poised to be one of the leading jurisdictions for digital companies in the world.

CATAWBA RESERVATION, ROCK HILL, SOUTH CAROLINA, UNITED STATES, February 22, 2022 /EINPresswire.com/ -- 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.

Using a model similar to Estonia’s eResidency, after completing the ‘know your customer' (KYC) requirements, anyone in the world will be able to set up an eCorporation online in the GEZ and enjoy policies and regulations that allow them to safely manage their digital assets, raise investment capital and offer digital-banking services. eCorporations are legal corporations, permitted to conduct business virtually from the GEZ, and can open bank accounts within the United States. GEZ eCorporations are ideal for online companies, software developers, remote workers, banking and finance, insurance, and firms involved in the creation, sale, or management of digital assets.

The Zone is an important economic development project that is anticipated to bring millions of dollars to the tribal citizens, and create numerous employment and education opportunities, transforming the lives of thousands of people.

"This is a progressive first step into the digital business world. We believe that it will generate millions of dollars and will enhance the quality of life for tribal citizens for decades to come," said Catawba Corporations board member and Catawba citizen, Thom Trimnal, "It will create economic opportunities that don’t currently exist, including jobs and workforce development."

With the legislation approved the GEZ is anticipated to commence to register eCorporations in a limited Alpha in March.

About Catawba Corporations
Catawba Corporations is the business branch of The Catawba Indian Nation. The mission of Catawba Corporations is to be the corporation of choice that creates economic growth and diversity for the Catawba Indian Nation’s workforce and its brand, fueled by its core values and the nation’s rich culture and heritage, facilitated by the corporation’s philosophy to be the “employer, employee, and client for life corporation”.

This announcement was first published on the official Catawba Corporations website where you can read the Original Press Release.

Media Contact: Thom Trimnal

(803) 3896601

Thom Trimnal (Board Member, Catawba Corporations)
Catawba Corporations
thomas.trimnal@catawba.com

Thom Trimnal (Board Member)
Catawba Corporations
email us here
Visit us on social media:
Facebook
Twitter

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.