Jamaica Money Market Brokers - March 2019

MAR 2019

JMMB ... IN YOUR WORLD

www.jmmb.com | 876 877 5512

WHAT IS THE “BLOCKCHAIN?”

The Cryptocurrency Term Defined

T he word

Thanks to this hash, previously added blocks cannot be modified in any way. You can only add new blocks. The use of mathematical, chained algorithms is what makes verifying transactions simple, subsequently making fraud detection relatively easy and prevents fraudulent transactions. In short, if someone tries to manipulate that blockchain in any way, changes to the hash can be identified and the manipulation stopped. This process makes cryptocurrency secure. Blockchains are not just useful for cryptocurrencies. Because they are a secure way to record data, blockchains are used in a number of different industries, including retail and shipping. In 2017, The New York Times reported that Maersk, one of the biggest shipping companies in the world, began using a blockchain to track various goods transported on its ships. It gives the company an accurate and instant picture of what is on ships and in port. They can track goods anywhere in the world in the blink of an eye. The blockchain adds a level of security to shipping and makes global shipping more efficient, which can have a positive environmental impact. If you are still scratching your head when you read about blockchains, it’s understandable. It’s a complicated topic, but it is becoming more mainstream. In the coming years, blockchains will be commonplace. As more businesses implement their own blockchains, it will be easier to understand. Eventually, education related to blockchain and data security will become the norm.

“blockchain” has become commonplace

in the financial, investing, and business worlds. When you read an article about bitcoin or any other form of cryptocurrency, you will likely see it several times. We know the blockchain

is an important component of every cryptocurrency, but what exactly is it?

Fundamentally, a blockchain is a record system. It is a shared public ledger of every single transaction made using cryptocurrency anywhere in the world. Blockchains are accessible by virtually everyone but not controlled by anyone unless it is a private blockchain, such as those used by businesses.

The individuals or businesses who use any given blockchain — that is to say, they make transactions — are responsible for maintaining that blockchain. They keep it accurate and up-to-date. This happens whenever a transaction is made, whether it’s the purchase of goods or services or a currency exchange, such as dollars for bitcoin. To that end, every single transaction is recorded in a data “block.” Every block holds the verified transactional information. With each subsequent transaction, the block grows, and eventually a new block will come into existence. This is programmed into the blockchain to happen automatically. When that happens, the blocks will be digitally “chained” together. This is where the cryptographic nature of cryptocurrency comes into play. With every new piece of the chain, mathematical data called “hash” is added.

–Joan Edwards

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Published by The Newsletter Pro • www.NewsletterPro.com

876 704 3734 ext. 3912

CREATING A HOME CARE PLAN To Live Your Best Retirement

When retirement approaches, you may be thinking about the freedom you’ll enjoy after putting in your last nine-to-five. It’s a culmination of years of hard work and a cause for celebration!

and locally funded and cover those who qualify through Medicaid. If you or your spouse are veterans and meet the requirements, you may be eligible for aid and attendance benefits. These benefits are paid for by the VA in addition to a veteran’s monthly pension. It may cover the costs of in-home care for veterans who require the aid of another person or are housebound. Visit Benefits.va.gov to learn more. Still, you may not want to rely on qualifying for one of these services. Consider adapting your estate plan to include designated in-home care. Meet with your attorney to review your living trust and see if it addresses a caregiver. Talk to your family members and loved ones about the possibility that you or your spouse may need this service. While a family member may offer to step into that role, consider how easily they will be able to carry it out. Even a part-time caregiver could provide you with support and make your family members feel like they are not doing it alone. Planning for the possibility that you may need in-home care services can help make your retirement even more enjoyable. Knowing you’ll have a close helping hand can ease your family’s worries and even strengthen your bond.

Before you get to celebrate, though, it’s important to consider what kind of support

you might need down the road. With our generation living longer than our parents, there’s a possibility that we may require additional support services. You and your spouse may not know if either of you will need in-home care, but considering this possibility and the financial factors that come with it can help you better enjoy this exciting phase of your life.

In most cases, neither Medicare or Medicaid covers in-home care. There are some exceptions, like home- and community-based services that are state

HEAR FROM OUR CLIENTS!

“I recently had the pleasure of having Sushanie Hunter in the Mandeville office assist me with my account. I have dealt with other institutions in Jamaica, and none have given the level of service that I received. The entire experience was pleasant and timely. I wholeheartedly recommend JMMB and look forward to continuing this relationship for years to come.” –Miz U. “I always feel at home and welcome when I go into the branch near Pulse International (though I can’t remember the name of the road). From the security to customer service, everyone is always on the ball, and they keep checking to make sure you are getting the help you need. Never thought that kind of service was available in Jamaica, to be honest, but it was exceptional. Thanks, everyone.” –Ann-Marie S.

Contact Your Personal Portfolio Manager: 1. Alaine Samuels – 551 7739 2. Gillian Bernard – 550 8020 3. Mark Gilzeane – 552 4586 4. Melissa McKenzie – 552 4666 5. Nicole Henry-Dewar – 469 2704 6. Racquel Henry-Burke – 403 9550 7. Ian Belcher (RBO) – 551 0521 8. Joan Edwards – 877 5512

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Why You Should Exercise With Your Significant Other AN INVESTMENT OPPORTUNITY (JUST FOR YOU)

LUXURY APARTMENT BUILDING Consistent with your goal to maximize your returns and as discussed in prior months, I am now able to share details with you of a 14-storey, 107 luxury apartment building being developed on lands at 6-8 Merrick Avenue, (adjoining the Terra Nova hotel).

The development represents a great investment opportunity as it provides:

I have attached for you a summary presentation and the indicative prices for the units.

• Portfolio Diversification • Ability for Rental Income

Please review and let me know your interest as soon as possible. The units will be first come, first served and advertising to the wider public is scheduled to begin this weekend.

• Access to the Terra Nova hotel amenities including spa, restaurant, casino, bar etc. • Capital appreciation given the prime location of the property

TRIVIA

TAKE A BREAK!

1. WHICH IS THE LONGEST RIVER IN JAMAICA? a. Green River

3. WE ARE VISITING THE FORMER HOME OF HOLLYWOOD ACTOR, ERROL FLYNN. IN THE NINETIES, IT WAS THE SETTING FOR THE MOVIES, “COCKTAIL” AND “LORD OF THE FLIES”. WHERE ARE WE? a. Treasure Beach b. Port Royal

b. Rio Minho c. Black River d. Yallahs River

c. Port Antonio d. Blue Lagoon

2. WHICH POPULAR JAMAICAN RADIO PERSONALITY HAS THE FOLLOWING SIGNOFF: “FATHER TIME, MOTHER EARTH WILLING, WE DO IT TOGETHER AGAIN.” a. Elise Kelly b. DahJah c. Ron Muschette d. Wilmott

4. WHERE IS JAMAICA’S MOST FAMOUS TOURIST ATTRACTION, THE BEAUTIFUL DUNN’S RIVER FALLS, LOCATED? a. Ocho Rios b. Morant Bay c. Negril d. Montego Bay

Solution

3 876 704 3734

JMMB Limited ATTN: Joan Edwards 23 Phoenix Avenue Kingston 10 Jamaica

876 704 3734 | www.jmmb.com

What is Blockchain? pg 1 Considering the Costs of Home Care pg 2 Our Clients Say It Best! pg 2 AN INVESTMENT OPPORTUNITY! pg 3 Celebrate Island LifeWith These Events pg 4

CONCERTS, SAILING, AND KITES

3 EVENTS COMING SOON

Earth Hour Concert March 30, Kingston The Ranny Williams Entertainment Centre is hosting the Earth Hour Concert.

information, see MobayYachtClub.com as updates come in.

St. Ann Kite Festival April 22, Richmond, St. Ann

This global concert series started in Australia in 2007. As an acoustic concert, the event helps bring awareness regarding environmental issues impacting

The Jamaica International Kite Festival, also known as the St.

Jamaica and the world. The concert is expected to start at 5 p.m. on Saturday, March 30. See the event’s Facebook page at Facebook.com/EarthHourJA for any updates.

Kite Festival, is a world- class event, showcasing unbelievable kite

designs and displays. The festival attracts people from

Montego Bay Yacht Club Easter Regatta April 19–April 22, Montego Bay

all around the world. It’s a great event for children and adults alike, as the sky fills with extraordinary kites of all shapes, sizes, and colours. In addition to kites, the festival hosts food and live music. You can find more information and updates at Facebook.com/The-Jamaica-International-Kite- Festival-1464888283744333.

Easter weekend in Montego Bay is a weekend on the water. Several races are scheduled over four days, with races in many different classes, including single-handed racing and fleet racing. There’s even an Easter egg hunt on shore for children. For more

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