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The Bahamas confirmed it will cross the central bank digital currency (CBDC) finish line next month.“The intended outcome of Project Sand Dollar is that all residents in The Bahamas would have use of a central bank digital currency, on a modernized technology platform, with an experience and convenience—legally and otherwise—that
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Read MoreThe Bahamas is gunning to become the first country in the world to roll-out a state-backed virtual currency nationwide, and has announced it will launch a central bank-issued cryptocurrency during October.The assistant manager of eSolutions at the Central Bank of The Bahamas, Chaozhen Chen, told Bloomberg that the digital currency,
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While major industry actors argue that central bank digital currencies (CBDC) are years or decades ahead, the Bahamas plan to adopt a CBDC no later than 2020.John Rolle, the governor of the Central Bank of the Bahamas (CBOB), has reportedly confirmed that the Bahamian digital dollar initiative will be
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The Central Bank of the Bahamas (CBOB) is planning to introduce a digital version of the Bahamian dollar in the Exuma district.According to an official press release, the CBOB will launch its digital currency (CBDC) pilot on Dec. 27, which will extend in the first half of 2020 to
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The Bahamas’ digital currency pilot project goes live in Exuma on Friday.Residents of the island Exuma can enroll in the Central Bank of The Bahamas’ “Project Sand Dollar,” beginning December 27, 2019. They will receive mobile wallets that the Bahamamian government sees as facilitating the future of payments on the
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Hurricanes have been causing extensive damage to the islands of the Bahamas for millennia. The Central Bank of the Bahamas plans to pilot the first cryptocurrency in the form of Sand Dollars. Project Sand Dollars offers numerous benefits that can help individuals and businesses to recover, including having the means to quickly
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The Central Bank of the Bahamas (CBOB) is planning to release its own fiat digital currency in order to ensure economies’ resilience in the event of a natural disaster.CBOB governor John Rolle made the statement during his speech at the Counsellors Limited’s Exuma Business Outlook at Sandals Emerald Bay,
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