[2018-06-30]Digital Paradise: The Bahamas to Bring Digital Currencies into Pract

[Vladdirescu87]

Digital Paradise: The Bahamas to Bring Digital Currencies into Practice

The Central Bank of Bahamas has revealed plans of introducing a pilot digital currency for the nation.

During the Bahamas Cryptocurrency and Blockchain Conference, Peter K Turnquest, Deputy Prime Minister and Minister of Finance made it clear earlier this week that the production of a modern, fully digital payment is a way to go especially in this current tenure of governance.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/digital-paradise-the-bahamas-to-bring-digital-currencies-into-practice/

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[acheampong64]

I think the various governments are now trying to explore how blockchain and cryptocurrencies can be integrated into already existing systems, and that will make crypto flourish in the near future. I read another post that South Korea had invested in blockchain technology as well.
There are also universities setting up blockchain departments.

[Kakmakr]

" A digital Bahamian currency is more useful for very many Family Islands since they have observed a lot of commercial banks downsize and leave their communities without banking services. " <--- This is where Bitcoin is filling the gap, between the Banked and the unBanked. 

" The government is planning to come up with different ways in which certificates like passports, business licences, national insurance can integrate blockchain technology into use to help people in storing their important data and share it in a manner that is more secure and verifiable.

After coming into power in 2017, the minister wanted the Bahamas to use blockchain technology in order to be more efficient and fight corruption disease in the country. " <--- This is live changing and exactly what our lofty goals for Bitcoin is.

This government is hitting all the right spots with these moves and I truly hope that they will use Bitcoin for this. The tourism potential will also increase, because a lot of Bitcoin tourist can also travel to their Islands, if they use Bitcoin. 

[Proton2233]

That's good news. But the use of cryptocurrencies in the Bahamas is not enough to get a new impetus for the cryptocurrency to grow in popularity. It seems to me that the banks
any country cannot exchange cryptocurrencies for a dollar without the consent of the United States. There will be a lot of KYC requirements and a good idea will die without even being born.