Bahamas will develop a national cryptocurrency

The Central Bank of the Bahamas plans to release a cryptocurrency secured by the state. The idea of creating a national digital asset was made by the Minister of Finance of the Bahamas, Peter Carquest. It is reported by Cointelegraph.

New cryptocurrency in a resort Paradise

Information about the creation of the coin was made at the Bahamas conference of the Blockchain and Cryptocurrency. Finance Minister Peter Torquest announced the beginning of the development of digital payment service, which “fully meets the requirements of the digital era”.

Cryptocurrency of the Bahamas will be an important acquisition for local residents. We have already witnessed how the local banks were dissolved on the eyes, leaving the people with nothing. For island States the problem of constant travel and transportation are very important. Cryptocurrency can provide citizens financial services without the need to leave the house.

Carquest comments positively on the blockchain, because the technology can transform the Bahamas into a “digital heaven.” He said that the state will soon begin a program of issue of diplomas to the local employment exchange. The Finance Minister also sees the possibility of using the blockchain in the insurance, licensing and issuance of passports.

Using this technology, we can eliminate the human factor – corruption. Public services will become much easier and more efficient, while local people will not have to bribe for a normal service.

Nearby Bermuda are also in the process of developing structures for working with bloccano. Last month officials from the two countries signed a Memorandum with Binance Group and start-up Shyft.

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