Sand Dollar: The CBDC that The Bahamas is about to implement

The Central Bank of The Bahamas would be close to implementing the central bank digital currency (CBDC) called “Sand Dollar”, which will be valid in all the islands that are part of that country, the objective of which is to contribute to financial inclusion in the archipelago .

According to what the portal indicates Cointelegraph, Sand Dollar transfers can be made through mobile phones, which is quite favorable in its adoption, since according to the aforementioned portal, in 2017 it was estimated that approximately 90% of the Bahamas publication already uses mobile phones.

The Central Bank of The Bahamas launched the project for the Sand Dollar in 2019, with which it was able to test the aforementioned cryptocurrency on the islands of Exuma and Abaco, also, it is known that the Sand Dollar is linked to the Bahamian dollar, which it is pegged to the United States dollar.

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Carlo palomino
Bachelor from the National University of San Marcos (UNMSM). With interest in Digital Law and New Technologies. I endorse the phrase: "Knowledge is useful as it is shared." Contact: carlo.palomino19@gmail.com

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