Antigua and Barbuda will use cryptocurrency to develop renewable energy

The government of Antigua and Barbuda has signed off on a plan to let CNET Antigua, a private sector consortium of development and renewable energy players, conduct an ICO that aims to support development efforts in the Caribbean nation. 

The so-called “ICO for Development” (ICOD) will see the organization selling the Antigua & Barbuda Development Coin (ADC) to fund a variety of public-private and charity-run projects, including a solar farm with storage. A second ICO is expected to be issued to fund other projects on Barbuda.