Bahamas strikes first with Sand Dollar amid US–China CBDC faceoff
Cointelegraph
Published Oct 26, 2020 01:05PM ET
Updated Oct 26, 2020 02:40PM ET
The Bahamas, an island nation in the West Indies, made digital currency history on Oct. 20 with the official launch of a new central bank digital currency, the so-called Sand Dollar. It became the first country to roll out a CBDC available to all residents, and while the Bahamas is a small nation — with only 393,000 people — it appears to be an event of some global financial significance.
Or is it? “It could be if it succeeds,” Ross Buckley, KPMG-KWM professor of disruptive innovation at University of New South Wales, Sydney, told Cointelegraph. “Other small island nations — as in my backyard in the Pacific — are watching it carefully and could well follow suit.”
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Written By: Cointelegraph
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