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? What is the difference between Central Bank Digital Currency (CBDC) vs. Bitcoin and other Cryptocurrencies?

Central bank digital currency is a direct liability of the central bank, in The Bahamas, backed by the foreign reserves. Cryptocurrencies are private sector issued or minted. While they may be backed by other assets, including central bank currencies, they may not represent the liability of any government or central authority. In some cases, cryptocurrencies may also not be backed by any underlying asset.

Other FAQs

? What is Project Sand Dollar? ? Why does the Central Bank of The Bahamas think we need this? ? Is the Central Bank planning on taking the country cashless? ? Is Sand Dollar a cryptocurrency like Bitcoin? ? What is an e-wallet? ? Where are Digital B$ accepted? ? Is the system secure? ? What is Blockchain? ? Why is Sand Dollar referred to as "the digital Bahamian dollar?" ? Is Sand Dollar Legal Tender? ? What is Sand Dollar backed by? ? Can Sand Dollar be used internationally?

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