Friday, February 14, 2020

Digital Dollar To Have 'Monumental Effect'

Jeffrey Beckles

Tribune Business Editor

The Chamber of Commerce’s chief executive yesterday predicted that the Bahamian digital currency will “have a monumental effect” on the transparency and safety of local financial transactions.

Jeffrey Beckles, speaking after the Central Bank introduced Project Sand Dollar to 162 businesses at a Chamber breakfast, told Tribune Business that the initiative “sets the tone” for entrepreneurs to develop multiple spin-off products in this space for the benefit of both consumers and businesses.

Calling for the Sand Dollar’s national roll-out to be accompanied by a robust education campaign, he added that the 93 percent of Bahamians who own mobile phones are already “functioning in that space” without using it to conduct financial transactions.  Read more >>