The Central Bank of the Bahamas stated that after the launch of the National Digital Currency, its transactions will not be limited to the local level.
During the speech on the virtual presentation, the Assistant Manager for Electronic Decisions of the Central Bank of Bobby Chen said that the launch of the sand dollar should take place on October 20. By adding that at the initial stage, it will be used only in the territory of the bugs, but the development team is already working on a system that will make it compatible with other world currencies.
The head of the banking department of the Central Bank Cleopatra Davis also reported that the digital currency would support the work offline. According to her, residents will be able to make payment transactions even in the absence of electricity and mobile network.
The right to spread the sand dollar on the islands received six financial institutions.
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