​​Central Bank of the Bahamas (CBOB)’s Project Sand Dollar is Coming to the Country

Plans are underway from the Bahamas' Central Bank to unleash its digital coin. The announcement was made recently, and the bank said that this was in a bid to make the economy more resilient. Having their digital currency will ensure the economy remains stable even in times of natural disaster occurrences.

The governor of the central bank, John Rolle, made this announcement at Sandals Emerald Bay when he was delivering his speech at a Business Outlook for Counsellors Limited's Exuma. That was according to a local news publication that featured on Nassau Guardian on Oct. 25.

John believed that digital coins possess the ability to unlock the country from depending on cash. He added that the effect would even be more visible during times of a natural disaster.

Rolle explained:

“It would permit wireless restoration of payments connectively, avoiding the cash shipment and cash handling frustrations. It would permit electronic dispersing of aid and allow families to recapture personal dignity by restoring the flexibility to prioritize the elements of personal need that they prefer to satisfy post-disasters.”

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