Eastern Caribbean dollar goes digital, a help for unbanked
DÁNICA COTO, Associated Press
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SAN JUAN, Puerto Rico (AP) The Eastern Caribbean has created its own form of digital currency meant to help speed transactions and serve people without bank accounts.
The Eastern Caribbean Central Bank said its “DCash” is the first such blockchain-based currency introduced by any of the world’s currency unions, though some individual nations have similar existing systems.
It became available Wednesday in four island nations under a yearlong pilot program: St. Lucia, Grenada, Antigua and Barbuda, and St. Kitts and Nevis.
“(It) is a milestone in the history of monetary instruments,” said Bitt CEO Brian Popelka during a press conference broadcast online.
Eastern Caribbean dollar goes digital, a help for unbanked
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Feb 17, 2021
SILVER SPRING, Md. (AP) The seemingly unstoppable rise of Bitcoin continued Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time.
The price of Bitcoin has risen almost 200% in the last three months and its volatility was on display Tuesday. After rising above $50,600, it fell back to $48,674 at 2:15 p.m. ET. At that price, with about 18.6 million Bitcoins in circulation, Bitcoin has a market value of nearly $907 billion.
Bitcoin is rallying as more companies signal the digital currency could eventually gain widespread acceptance as a means of payment. The vast majority of those who have acquired Bitcoin have treated it as a commodity, like gold, with few places accepting it in exchange for goods or services.