Bahamas becomes the next nation to launch National Digital Currency

[stoat]

Central bank of Bahamas has launched the National Digital Currency. It's a distributed ledger, blockchain based technology but the coins would be regulated and minted by the central bank. Similar to what many other countries have launched.
Called the sand dollar, its price would be pegged to Bahamian dollar and would be used for domestic transaction across the island nation. The users would need to go through a KYC first and the transaction fees are told to be negligible.

https://decrypt.co/45740/bahamas-launches-its-central-bank-digital-currency

Literally so fucking what. its just digital fiat which already exists.

[Febo]

Central Bank Digital Currency have little to do with cryptocurrencies. They are stable coins nothing less nothing more. Quite similar to current bank accounts. They will burn and create them all the time. Real cryptocurrenies have its issuing schedule written in their protocol at time when they are launched. Not that they change it every minute.

[plvbob0070]

For me, it's still a good thing although it won't bring a huge impact on crypto since, after all, it's a centralized one that is controlled by the bank. But on the positive side, adopting digitally can help in teaching people about the digital currency which can also give them an idea about cryptocurrency. I mean, it teaches people how to make transactions using digital currency so once they get to know about crypto, it will be easy for them to understand it.