Bahamas began testing their digital currency

The Central Bank of the Bahamas islands launched a pilot project of the National Digital Currency Project Sand Dollar.

The first tests began today, and in the first half the program should cover the entire group of the North Islands Abaco. The authorities expect a digital analogue of the Bahamian dollar to simplify access to financial services for residents and will increase their effectiveness, will help in combating money laundering, illegal operations and

The press release also says that during the project implementation will simultaneously develop new rules, norms and standards for this class assets aimed at improving consumer protection. Parallel to the Central Bank plans to promote reforms that allow non-banking organizations to take direct participation in the national payment system.

In the future, the Bahamas want to completely get rid of cash, calculations, turnover and storage of which complicate the geographical and territorial features of the state.

The development of the «sand dollar» is engaged in the company NZIA LIMITED.

Recall that the British Virgin Islands recently announced the launch of their own digital currency

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