Bahamas central bank records Sand Dollar on balance sheet at $48,000

The Central Bank of the Bahamas has put the Sand Dollar on its balance sheet, valued at $48,000.

First digital currency to shows up on a central bank balance sheet? https://t.co/KDcWsXky1T

[I get this detail about the Bahamas’ Sand Dollar project via @TheBlock__‘s useful report on CBDC https://t.co/C6AZDRSWLn] pic.twitter.com/zG9oqYWZYP

— John Paul Koning (@jp_koning) August 21, 2020

Researchers The Block uncovered the relevant information in the central bank’s annual report, published in April.

A pilot involving retailers is underway in the Exuma district. A full rollout of Sand Dollar is planned for the fourth quarter of this year.

News of CBDC testing at the Bahamas central bank was announced in late 2019.

According to Neha Narula, director of MIT’s initiative focused on digital currencies, it was Bitcoin that spurred research and development in CBDCs. Her comments включены in The Block’s recent CBDC report.

Earlier, the former head of India’s central bank, Raghuram Rajan заявил that Bitcoin and Libra would find their niche after CBDCs appear in most countries.

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