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Case Study on the Sand Dollar CBDC of the Bahamas: Lessons, Challenges, and Insights

Case Study on the Sand Dollar CBDC of the Bahamas: Lessons, Challenges, and Insights

Himanshu Sisodia
Copyright: © 2024 |Pages: 17
ISBN13: 9798369318829|ISBN13 Softcover: 9798369349489|EISBN13: 9798369318836
DOI: 10.4018/979-8-3693-1882-9.ch018
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MLA

Sisodia, Himanshu. "Case Study on the Sand Dollar CBDC of the Bahamas: Lessons, Challenges, and Insights." Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges, edited by Guneet Kaur, et al., IGI Global, 2024, pp. 298-314. https://doi.org/10.4018/979-8-3693-1882-9.ch018

APA

Sisodia, H. (2024). Case Study on the Sand Dollar CBDC of the Bahamas: Lessons, Challenges, and Insights. In G. Kaur, P. Lekhi, & S. Popli (Eds.), Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges (pp. 298-314). IGI Global. https://doi.org/10.4018/979-8-3693-1882-9.ch018

Chicago

Sisodia, Himanshu. "Case Study on the Sand Dollar CBDC of the Bahamas: Lessons, Challenges, and Insights." In Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges, edited by Guneet Kaur, Pooja Lekhi, and Simriti Popli, 298-314. Hershey, PA: IGI Global, 2024. https://doi.org/10.4018/979-8-3693-1882-9.ch018

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Abstract

The chapter delves into the history, practical approaches, and implications of the Central Bank of the Bahamas' Sand Dollar central bank digital currency (CBDC). It highlights the initiative's role in modernizing the Bahamas' financial system, promoting accessibility and inclusivity. The chapter emphasizes the importance of strong infrastructure and clear regulations for successful implementation of CBDCs. It also examines the potential benefits and drawbacks of CBDCs, such as monetary policy, financial stability, cybersecurity, and consumer protection. The chapter highlights the need for careful risk-taking and trade-offs. It also highlights the impact of CBDCs on financial intermediation, cross-border payments, monetary sovereignty, and the digital economy. The chapter offers valuable insights for regulators, policymakers, and market players, providing a comprehensive analysis of CBDCs' role in promoting financial inclusion, innovation, and economic development in the digital era.

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