The Bahamas has joined a small list of countries planning to experiment with digital currencies central bank. The country's Deputy Prime Minister, who is also a famous finance minister, C. Peter Turkquest, announced during a recent blockchain and cryptocurrency conference that the Bahamas' central bank will introduce an experimental digital currency. With the Bahamas made up of more than 700 islands, islets and bays, Turkquest said the digital currency will facilitate unbanked banking. This is due to the fact that many commercial banks in the archipelagic state have left society without vital banking services. With the Central Bank Digital Currency, the need to travel long distances to access these services will be reduced, making life more convenient in a country where transportation is problematic and costly. The Deputy Prime Minister of The Bahamas also noted that the digital currency will improve the ease of doing business in the country.

Source: ccn.com