Bahamas exploring ‘early introduction’ of CBDC
Move could test currency’s emergency features in aftermath of hurricane Dorian, governor says
The Central Bank of the Bahamas is exploring the idea of fast-tracking a digital currency pilot – dubbed Project Sand Dollar – to tests its emergency features in the aftermath of hurricane Dorian.
The Bahamas has been experiencing the direct impacts of climate change, both in “frequency and intensity” of hurricanes, governor John Rolle said in an October 24 speech. In August, the islands were hit by hurricane Dorian, causing widespread economic damage.
Dorian dealt significant damage to Abaco
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Digital currencies
ECB could go below r* when setting policy, says Panetta
Bank of Italy governor says eurozone has to return to “normal way of doing monetary policy”
Stablecoin issuers pose short-term outflow risk to lenders – study
Research finds crypto assets weaken liquidity coverage ratios
Digital euro ‘may require’ battery-powered cards for offline use
Eurosystem could develop its own app to manage digital euro accounts
CBDC would have little effect on real economy – BoK paper
Researcher says CBDCs would have marginal but positive effects on output
Most Germans would use digital euro – Bundesbank
Privacy, sturdiness and offline functionality among top concerns, survey finds
HKMA creates tokenisation advisory group
New group includes BIS Innovation Hub, regulators, academics, banks and tech firms
Retail CBDC complexity may discourage adoption, says research
Kansas City Fed author argues Caribbean CBDCs have struggled to add value
Retail CBDC would extend central bank balance sheets – ECB paper
Frequent fine-tuning of monetary policy operations could become the norm