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Just read in Bloomberg that the Bahamas has a digital currency pegged to its fiat called Sand Dollar. It is digital fiat and not cryptocurrency. You use your phone to pay.
Has anyone used Sand Dollar to pay cruising fees or anything in the Bahamas, yet? The advantage would be the elimination of transaction fees and the digital money might actually make it to the government rather than local officials.
Bruce
Freestyle
1986 62 CPMY (54My with ext)
Tampa
CBDCs (central bank digital currencies), like the Bahamian Sand Dollar are absolutely the most terrifying and destructive thing that will inevitably happen in finance. This isn't the forum to discuss macro economics and monetary policy, but just mark my words.
With that off my chest, here is some info on the Sand Dollar https://www.sanddollar.bs/about
Agree this isn't the forum to discuss Macro Economic policy and central banking.
Yet, you just did. And it's your first post ever.
I disagree in general with your statement, agree in part, and will leave my published views on digital assets elsewhere.
We also like the same boats.
Now, does anyone know if Sand Dollar is accepted for paying Bahamian cruising fees?
Bruce
Freestyle
1986 62 CPMY (54 MY with ext)
Tampa
We ve discussed worst things here in the sandbar. And it s not Scaliwag first post, he s been around for a while…Quote:
Originally Posted by Freestyle
The Bahamas Sand Dollars has been around for a couple of years or so. In theory it should be usable to pay for cruising permits and customs…. But Tis Da Bahama, Mon!