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
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Thread: Bahamas Sand Dollar
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01-15-2023 08:58 AM #1Senior Member
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Bahamas Sand Dollar
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01-16-2023 09:14 AM #2Registered Member
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Re: Bahamas Sand Dollar
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
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01-16-2023 10:18 AM #3Senior Member
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- Apr 2005
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Re: Bahamas Sand Dollar
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
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Re: Bahamas Sand Dollar
We ve discussed worst things here in the sandbar. And it s not Scaliwag first post, he s been around for a while…
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!Pascal
Miami, FL
1970 53 MY #325 Cummins 6CTAs
2014 26' gaff rigged sloop
2007 Sandbarhopper 13
12' Westphal Cat boat