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News Central Bank of Bahamas shares updates on Sand dollar CBDC progress Wednesday 7 April 2021 12:06 CET | News John Rolle, the Governor of the Central Bank of Bahamas, has shared some updates on the rollout of the Bahamas’ central bank digital currency (CBDC) which went live in October 2019. Also known as the sand dollar, the currency’s motivations are to promote financial inclusion, modernise the payment system, and make private wallet systems interoperable. A key goal of the Sand dollar is to be accessible and not to exclude users based on technology. Therefore, the currency is available on a smart card, not just smartphones, to help with the elderly. At the other end of the age scale, children often run errands and have pocket money, so they need to have access to digital cash. However, minors must get consent from their parents.

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