Countries issuing their own digital currency are of great interest. The Bahamas is one of the first countries to effectively do so.
There have been plenty of rumors regarding the Bahamian Sand Dollar.
The Sand Dollar is Coming Soon
It is a digital currency tailored to the needs of inhabitants of this island nation.
Initially, it remained unclear if this would become a real thing, or was merely a rumor.
Sources close to the matter have now confirmed that the Sand Dollar will launch nationwide in 2020.
The initial trial of this currency has been running since December 2019.
Based on the initial feedback, it appears that the Sand Dollar is a success, of sorts.
This CBDC will transform the financial landscape across the Bahamas for the better.
It is pegged to the Bahamian Dollar which is in turn pegged to the US Dollar.
For now, there are still some kinks and concerns to be ironed out.
Especially where security and legality are concerned, the Sand Dollar raises a lot of questions.
Government officials are confident all of these concerns will be alleviated by the summer of 2020.
The success of the Sand Dollar will provide valuable information to other countries exploring the concept of a CBDC.
For now, that concept remains questionable when used on a large scale.