Bahamas central bank adds new digital currency to balance sheet
There was $48,000 worth of its central bank digital currency, the Sand Dollar, in circulation, according to the Bahamas central bank.
There was $48,000 worth of its central bank digital currency, the Sand Dollar, in circulation, according to the Bahamas central bank.
The digital currency electronic payment has been on a test run, targeting small retail transactions amid preparations for nationwide rollout.
The group will investigate the implications of a central bank digital currency (CBDC) on the country’s economy, among other things.
The central bank has been studying and testing DLT for years now and is currently working on a hypothetical digital currency oriented to central bank uses.
Kazushige Kamiyama has been appointed to head Bank of Japan’s payments and settlement department.
The facility to support CBDCs is being developed as a “bolt-on” should the bank decide to roll out a digital currency in future.
Bakong is in testing since July and is expected to be up and running by the end of the quarter, according to a central bank official.
The Philippine central bank has assembled a committee to research the feasibility of central bank digital currency as well as its policy implications.
Bank of Japan has been experimenting with a central bank digital currency, although it is yet to officially develop a digital currency.
The nChain CEO was the latest guest on The Banker’s Tech Talk series, where he discussed a range of blockchain-related topics.
The central bank asked companies to come up with technological solutions for the CBDC, to be submitted by August 7 for consideration.
Bank of Thailand is partnering with the Hong Kong Monetary Authority to integrate the Hong Kong dollar into its CBDC system.