Digital currency is now included in a central bank’s balance sheet. As discovered by The Block, the Bank of Bahamas reported that it launched the Sand Dollar worth $ 48,000 in a financial statement published in late April.
In the document on the subject, “The bank piloted the Sand Dollar in Exuma and issued a Sand Dollar worth 48 thousand dollars to various retailers.” statements took place.
The Sand Dollar aims to help modernize the region’s financial system and digitize the Bahamian dollar. In addition to all these, it is planned to ensure full integration of small and medium-sized enterprises into the digital payment ecosystem. In addition, with digital money, it is stated that universal access to banking services will be made possible, informal economic activities will be reduced and other illegal activities carried out more easily with cash will be suppressed with money laundering.
The digital currency is expected to be fully implemented in the fourth quarter of this year.
Today, the digital money work, including Sweden Turkey, Uruguay, Ukraine, Singapore, Thailand, China, UK, Europe, Canada, Japan, America and performed in many more countries.
Whether central banks will include Bitcoin in their reserves has been a topic of discussion for a long time. Although there is no official statement on this issue yet, it is said that Venezuela does research from time to time. Last year, Vladislav Ginko, a Russian lecturer who is said to have close ties with the Kremlin, suggested that Russia will start converting some of its reserves into Bitcoin against US sanctions.