Sirwin
Sirwin

The Bahamas now have their official digital currency


Well, I guess this is kind of a milestone, the Bahamas became the first nation in the world to launch a state-backed digital currency (SAND DOLLAR) through the National Bank. My opinion is that, even if Sand Dollar will not revolutionize the world of Crypto's, it sure shows that National Banks are looking at digital currencies to modernize the economical system. This makes a lot more sense in a country made by hundreds of small islands with a lot of problems in the payment infrastructures.

 

What is Project Sand Dollar?

Project Sand Dollar is the initiative embarked by Central Bank of The Bahamas to issue its own digital version of the Bahamian dollar as well as implement the appropriate digital payments system infrastructure to sufficiently underpin the operation of a digital currency ecosystem.The project was build to advance more inclusive access to regulated payments and other financial services for under-serviced communities and socio-economic groups as well as to reduce service delivery costs and increase transactional efficiency for financial services across the Bahamas.

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The Very Confused Martin Babalor
The Very Confused Martin Babalor

Crypto enthusiast, NFT minter linktr.ee/bigbluepotatoesstorm


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