The Sand Dollar—which is pegged one-to-one to the U.S. Dollar—is expected to facilitate trade in the remote locations that play an important role in its tourism economy and make mobile payments easier. Users of the new digital currency will be able to make person-to-person or business transactions with their phones, even when they are offline.
The Bahamas launched its Sand Dollar digital currency to help far-flung tourist destinations (Photo: Scopio)